Thursday, May 17, 2012

Skaneateles Real Estate - The Weekly Update

Oh so busy!  Everyone is saying they are, and as we have all learned - "Make hay while the sun shines!"  it all could end.  Just stop.  Interest rates could rise (what are they doing in Europe!?).  There could be a national disaster (I started real estate four weeks to the day before 9/11).  Fracking could be approved and there could be a platform going up in Bear Swamp or at the polo, this won't happen.  Toronto is experiencing a California-like market.  Homes go on for one price and are bid up rapidly.  What happens in a couple years when the owner must relocate?  I know several people stateside to ask, unfortunately.  No, our type of busy is good!

Currently there are now over 100 active listings in the Skaneateles area of the multiple listing service (actually 103).  Three new ones came on the market this week: village and town around $500,000, give or take, and one that is further out for around $300,000.  All are relatively newly built.  Three more returned to the market after a hiatus, possibly because of winter or renting or to re-freshen the numbers.

There is nothing new in the contingent, under contract or pending statuses - 31 homes are waiting to remove contingencies or close.

But once again, two more houses have sold and closed, bringing the year's total to an amazing 29 homes.  One sold at a markedly low price, but it was in need of work.  The other needed nothing, a gorgeous village home.
Last year at this time there were only 16 closed sales.  It took us until July 16th of 2011 to get to 29 closings. We made up for it some in August, but if the summer closings continue (and I have a couple that will add to this number) then we will have a record year.  But then again - it could all just stop.

Interesting figure - the median list price of the first 29 homes that closed last year was $275,000.  This year it's $279,000 - hardly a huge swing. (Thank you, JT, for keeping this in my mind!)

So go now - rates are incredibly low!  Keep all of us Realtors busy!