I knew it had been a while, but I didn't think it was a month! I have been busy, which is good. I do like looking back this far because it shows trends more easily.
There are currently (only) 92 single family homes listed in the Skaneateles area of the multiple listing service. Of these, 28 are in the Village and 29 are considered waterfront.
Since the last update on May 17th, 17 properties have come on the market. Only one is a re-list. Nine are waterfront, and seven are in the Village. Three are multi-million dollar properties. The new listings range from $279,000 (my Highland Ave. listing - a steal!) to an almost 8 million dollar waterfront estate. Four of the Village homes are stately and large, and they range in price from $500,000 to almost $700,000.
Turning to the homes that have offers, there are 29 in this category. Some are waiting for other homes to sell, but the vast majority have offers contingent on financing or attorneys' legal work. Where the median price was somewhere around $600,000 in the new listings, the contingent homes' median price is about $300,000, or half that number. A third are considered waterfront, similar to the percentage of all listings.
With all these high numbers being bandied about I expected to find a goodly number of closings, as well. Instead I found five, all of them selling below $400,000. In this case the median list price was in the mid-$200,000. This means simply that, as we all know, the lower-priced homes sell quicker. The pool of buyers is greater than the million dollar home-buyers.
We now have 31 homes that have sold so far this year. Last year was a record-smashing year, and by this time there were 38 closings. Interestingly enough, the median price was just about the same. But there is a slow-down, and it can be felt in the number of showings requested in the past month. There shouldn't be - we just re-financed our house to take advantage of the 2.9% rates because they are going up. I believe everyone should get out there and BUY! There are some fantastic homes in our wonderful Village, Town and on the lake!