Skaneateles Real Estate - Getting Back on Track Update

Last week a few things happened that have resulted in this blog and other blogs going forward.  I heard from an old fan of the blog who mentioned that he was glad to see it reactivated.  He also gave me a lovely referral!  I had started writing again because I do enjoy it so much, and also because it keeps me grounded in the business.  More importantly it makes me stop and think.  I gave up rushing years ago but I forget to take time for myself.  I count the blog as "me-time," just as necessary as my daily walk.

So thank you, old friend!

There are currently 88 active listings in the Skaneateles area of the multiple listing service.  Of these, 22 are in the Village and 13 are considered waterfront.  Nine "new" listings came on this week, but 4 were re-lists. People take properties off the market to freshen their listing, ensuring that as Realtors check the hotsheet it will be seen anew.  I usually print out histories for my buyers, to let them know that this is not a new listing they are viewing but one that was on the market for a length of time previously.  Also there may be changes - new pictures of updated work that was done, a change of brokerage, new price.

Only one property was added to the "under contract" list.  It was just listed in the past 10 days and has "sold" already.  Pricing is everything!  List a home under the market value as determined by comparable sales and it will go quickly.  There the debate rages - too low and "money was left on the table."  Maybe...but also taxes weren't paid for months, insurance, mortgage costs...and there is a stress factor to selling a house that is costly, too.

No closings were reported in the past 10 days.  I did write a "First Twenty" blog, so please check if you missed it.  In 2014 by this date there were only 20 houses sold and closed.  As I noted, that was a very slow year!  In 2013 there were 25 - about 20% of the total number that year.

Since I will write more regularly I thought I would include another area (perhaps) on a regular basis.  This week I chose Marcellus.  I have four listings there now, so it is meaningful to me.  Currently there are 28 active listings of which 7 are in the Village and one is waterfront on Otisco Lake.  Five are under contract, and 12 have sold so far this year.  Last year 15 had sold - they weren't slowed by the lengthy winter!  In some ways their market is healthier....at this pace they will exhaust their inventory more rapidly than Skaneateles.

                                                4605 Limeledge Road - Town of Marcellus 

               $199,888             

One reason is their median price: $219,000 for the active listings, and $134,500 for the sold and closed properties.  More people can buy in this range, and as noted it is the lower-priced properties that have sold. By contrast, Skaneateles' active median price is $379,000 and their closed price is $339,000.

Whatever the price, the market is moving.  Get out to open houses, check daily on Realtor.com, REMAX.com, or CNYHomes.com for listings.  These are tied to the MLS system we use and will be the most accurate.  But that's another discussion.....