Now why do they call them that? "Dog Days." I have a vision of our Boo just lying around in the heat on a dusty road, his tongue lolling out. No, that's Charlie, and his tongue is always out (only has two teeth!) The market is sluggish - waterfront is getting shown, and yes, I have sold a non-waterfront home or two in the past couple weeks, but this is the down part of summer. People from other parts of the country believe it's the best season - but not here. Everyone is too busy soaking up the sun to go look at houses.
We have 103 active listings in the Skaneateles area of the multiple listing service. Of these, 25 are waterfront and 24 are in the Village. There are 8 new listings - or rather, 4 absolutely new and 4 re-lists, some from a few years ago. The new ones are two in the town and two waterfront homes.
Waiting to close are 32 properties. That seems like a lot, and I must say getting things closed in the summer is sometimes a challenge. Again - sun-soaking takes precedence. There are also vacations to take into account and holidays.
In the past two weeks since the last update 8 houses have come under contract - 2 waterfront, 2 Village and 4 in the town. I still say it's sluggish - except for waterfront, homes are not being shown as regularly.
We now have 40 closings for the year. In the next few days I will write up the Second Twenty, the list of homes that closed and the price at which they closed. Three new closings brought us to forty - one each for Town, Village and Waterfront. None of the new closings were listed over $300,000.
Last year and the year before were boom years. By this time last year we had 56 closings. I am now willing to admit that it will be a slower year. Our inventory is down, list prices are slightly higher, and so are the mortgage rates. The combination puts a damper on the market. Add to that our eternal winter - remember snow and turtlenecks in May? - and it's not surprising. I do look forward to a robust fall however!
So go sun-soak - enjoy the season - but pick out your new home and casually drop by an open house or two. Summer in Skaneateles is a privilege!
Wednesday, July 30, 2014
Tuesday, July 15, 2014
Skaneateles Real Estate - The "Uh-oh" Update
Just did not realize that it's been this long....many apologies. I had this premonition that it had been a while when someone asked me a statistical question about the area and I found I couldn't spout off the answer without thinking. Then I thought and knew I didn't know! Got that? Not sure I do...but while waiting for offers to be accepted this afternoon I did the research.
There are currently 105 active listings in the Skaneateles area of the multiple listing service. Of these, 26 are in the Village and 24 are considered waterfront. While I was away (off showing houses, selling houses, closing houses) there were 34 new listings entered into the computer. While I doubt all are new - I know of a few re-lists) 12 of them are in the Village and 5 are waterfront. Odd that the numbers are so similar overall, but the new Village listings far outnumber the waterfront. It's the season - also probably more re-lists in the Village.
In the under contract category, there are 26 properties. Seventeen were sold/contracted in the past 45 days since my last update. If that trend continued we would have a record-breaking year.
There are now 37 closed homes and 16 of these closed since the last update at the end of May. Six were in the Village, and 4 were waterfront. (People are out there eating dinner by the lake, watching the sun come up or go down, kayaking in the early morning mists, hearing the waves break on the shore at midnight....hope it makes you long to buy something!)
A slight damper comes to these numbers by looking at 2013 when there were 50 closed homes by this time. But it simply wasn't the same sort of winter we had. I was still wearing a turtleneck in the morning while walking Charlie the last time I wrote! Not right, not right at all!
I like analyzing data, as you most likely know, so I looked at median prices. Good news! The median list price of those homes sold was $327,900 - higher than last year. Good news (maybe)! The median list price of all the currently active listings is $419,000. Expect an increase, once would think, in the closed prices too.
Not so good news. The median price of the listings under contract is a lowly (for Skaneateles) $224,000. In other words, the lower-priced homes were the ones that sold in the past couple months.
Summer is fully here now - houses are being shown a bit more slowly than in the spring rush - but I know I have offers being presented so I think others do too.
Enjoy the summer - get out and go to a ball game - eat at Doug's - watch fireworks - go to the sidewalk sale this weekend. Have fun in Skaneateles - no better place to be!
There are currently 105 active listings in the Skaneateles area of the multiple listing service. Of these, 26 are in the Village and 24 are considered waterfront. While I was away (off showing houses, selling houses, closing houses) there were 34 new listings entered into the computer. While I doubt all are new - I know of a few re-lists) 12 of them are in the Village and 5 are waterfront. Odd that the numbers are so similar overall, but the new Village listings far outnumber the waterfront. It's the season - also probably more re-lists in the Village.
In the under contract category, there are 26 properties. Seventeen were sold/contracted in the past 45 days since my last update. If that trend continued we would have a record-breaking year.
There are now 37 closed homes and 16 of these closed since the last update at the end of May. Six were in the Village, and 4 were waterfront. (People are out there eating dinner by the lake, watching the sun come up or go down, kayaking in the early morning mists, hearing the waves break on the shore at midnight....hope it makes you long to buy something!)
A slight damper comes to these numbers by looking at 2013 when there were 50 closed homes by this time. But it simply wasn't the same sort of winter we had. I was still wearing a turtleneck in the morning while walking Charlie the last time I wrote! Not right, not right at all!
I like analyzing data, as you most likely know, so I looked at median prices. Good news! The median list price of those homes sold was $327,900 - higher than last year. Good news (maybe)! The median list price of all the currently active listings is $419,000. Expect an increase, once would think, in the closed prices too.
Not so good news. The median price of the listings under contract is a lowly (for Skaneateles) $224,000. In other words, the lower-priced homes were the ones that sold in the past couple months.
Summer is fully here now - houses are being shown a bit more slowly than in the spring rush - but I know I have offers being presented so I think others do too.
Enjoy the summer - get out and go to a ball game - eat at Doug's - watch fireworks - go to the sidewalk sale this weekend. Have fun in Skaneateles - no better place to be!
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