Wednesday, October 26, 2011

Skaneateles Real Estate - The Weekly Update

"Inundated!"  That was my word for the rental market this past week.  So many calls for the two properties I have listed in Skaneateles - each $1,300, each 3 bedrooms.  Last Sunday I held two open houses and told people to come - one couple came to both, and another took an application for one of the homes.  People insisted that they see these homes - but then didn't come.  The rental market is a difficult one - but I wasn't alone.  The "inundated" also came from another agent who was beset with calls.  So many people can't buy, for one reason or another, that they want to rent.  And what better place to rent than in Skaneateles?

Currently there are 146 active single family residences for sale in the Skaneateles area.  Of these, 46 are in the Village and 31 are considered waterfront.  This week there were no new listings - just a re-list with a HUGE drop in price for a waterfront home.  There were also no new contingent sales, so the number remains at seven.

But there were pendings - of the 10 in the multiple listing service for Skaneateles, three went mostly straight to pending.  One is a village home that has had the price drop over the past year, and the other two had lakefront.  Again, fairly long times on the market with drops in price.

We remain at 54 sales for the year.

About those rentals....15 show that they were rented since the beginning of the year, two are currently contingent, and there are only 10 on the market.  These range from a low of $795 to $2,900.  The highest priced rental this year went for $5,500 per month - but for a home well worth it.  I wish the selling market was as hot - I'd love to see 100 homes on the market with 150 closings this year to date.

2208 Coon Hill Road

If you are out and about this weekend, stop by both of my Coon Hill listings - open Sunday, 1:00 to 3:00.  Just a very short two miles down East Lake to a left on Coon Hill Road.  I will buy you a "drink" at the Welsh bar!