Wednesday, September 5, 2012

Skaneateles Real Estate - The Summer-Ending Update

The past three weeks is the longest time I've been away from this blog ever, in the five or so years I've been writing it.  But business has never been better!  I start the day before dawn when Charlie gets me up if I'm at home, and then fall into my chair at night around 8:00, content to have a Corona Light and talk about the day, or just sit there.  If I'm at the lake I skip dinner altogether and go straight to a movie and falling asleep in my wicker chair.  "Make hay while the sun shines..."  It's been a bit cloudy over the past few years, not in my business, but in the market as a whole.  August.  Who knew?

So to catch up.  In the listings area there really wasn't much action.  Currently there are 109 active single family homes in the Skaneateles area of the multiple listing service.  Of these, 30 are in the Village and 27 are listed as waterfront.  In the past three weeks only 6 homes have come on the market for the first time.  Each and every one is a Village home!  They range in price from the low $200,000 to almost a million.

There is not a great deal of change in the numbers of the "contingent, under contract" homes - still a hefty 31.  However, 11 of these are new to this category.  Six come from the town, two are waterfront, and three are Village properties.  That's remarkable in that the percentages are similar to the active listings.

Let's think....if there hasn't been a sizable increase in the contracted properties, then where did the others go?  To the CLOSED category!

We now have 76 homes sold and closed this year - so far - in the Skaneateles area.  Eleven are new, with four coming from the Village and five from the town, and two waterfront homes rounding it out.  Soon we'll have the Fourth Twenty homes to publish.  Last year at this time only 46 homes had closed.  In all of 2011 there were 70.  Yes, we are on a roll!

More interestingly, all the newly closed homes were listed this year.  So if they went under contract approximately in late June, then none of them were on the market longer than five and a half months at the very most.  Of course some were refreshed, or changed agencies perhaps, but I can only see one that was listed in 2011.

So this means that it is time to buy.  With this much demand the prices will undoubtedly rise soon - just the nature of the business!  Rates are still low, but as I cautioned someone today they have risen just a bit in the past two weeks.  We are doing well, and only now going into the fall season.

I can't wait!