Skaneateles Real Estate - Where Did the Time Go Update

I do know where it went, at least in my experience.  It went to multiple offers and lost multiple offers, to listings that took off and flew, to long days and nights of attorney approvals and non-approvals, to mortgages and proofs of funds...  and along the way deals came together.

So this is the first update blog since waaaay back in early May.  I compiled statistics towards the end of June but never found the time to write and publish it.  The weather didn't help - so hot!  Add a mix of family issues, visits from our grandsons, visits to see our grandsons, and the blog did not happen.  Until now, a rain-filled day in late July.

Onwards and upwards....There are currently 55 active listings in the Skaneateles area of the multiple listing service.  Of these, only 13 are in the Village and 17 are considered waterfront.  In the Skaneateles School District as a whole there are 70 listings.

I also checked on listings that have entered Skaneateles Lake in their listing information.  There are 44 included in this category, although as I went through them several were lake access, and one offered membership in the country club as the rationale for adding the name.  Whatever gets you on the lake - it's a beneficial criterion.  I prefer the simple truth of 100 feet of waterfront really right on the lake as in my listing at 82 Lakewoood Lane.  (Shameless advertising!)

We have 19 single family properties under contract, waiting to close. 

When I was so busy it was definitely a sellers' market.  A home would come on the market and it would be shown the first couple days then receive multiple offers.  If an agent blinked or didn't check daily for his/her buyers, an opportunity would be missed.  Offers came in as cash, so no appraisal was necessary and inspection contingencies were dropped.  A wild time!

To make it even wilder, agents are now using escalation clauses.  Buyers write in a price they will pay, but add a clause that states they will go x-amount of dollars higher (up to a limit) over the highest offer.  I've used it and my sellers have enjoyed its benefits. 

The sellers' market is dropping off now.  I think people got excited and decided to "try" a higher price for their house, and now the market is suggesting that it's not a foregone conclusion that the seller will get his/her price.  We will see...it may just be the relentless heat and now the rain.

There are 40 sold and closed homes year-to-date.  (Of these, 14 have "Skaneateles Lake" in their listing.)  This is under the production of the last few years...inventory is low, another reason for the sellers' market we experienced.

Still - it is always a great time to buy in our area!  Enjoy the boat show this weekend!