Compilation - The Last Fifteen and The First Update

It can be gorgeous out there, this winter.  Cold now - frigid even - but so beautiful too.

Below are the last 15 single family properties that closed in the Skaneateles area of the multiple listing system in 2018.  They all closed from November 1st to the end of the year.

Village

112 Fennell Street          $130,000

14 Gayle Road               $430,000

135 East Genesee St.     $415,000

185 East Genesee St.     $415,000

59 Jordan St.                  $257,000

104 West Lake St.          $550,000

7 Onondaga Street         $487,500


Town

810 Hencoop Road       $675,000

3872 Highland Ave.      $238,000

1089 Jewett Rd.            $259,000

105 East Lake Rd.        $460,000

839 Old Seneca Tpke.    $95,000

1725 Russells Landing  $510,000

1017 The Lane              $657,000

1397 Thornton              $510,000


What's happening now to start the new year?  There are currently only 35 active listings in the Skaneateles area.  That's it, folks!  Of these, 9 are in the Village and 10 are considered waterfront.
In the Skaneateles School District there are 44 listings (and don't forget the 10 lots I have listed in the Town of Sennett but Skaneateles Schools!)  The median price of both areas is around $430,000.  The lowest priced house is under $50,000 while the highest priced listing is 9.5M.  Quite a range!  Only one truly new listing came on the market this past month; two others are re-lists. 

This weather, the uncertainty of the shutdown....all are contributing factors.  But remember, investing in real estate in Skaneateles is, in my humble and quite prejudiced opinion, always a great idea!

End of the Year: 2018

All year long agents and buyers complained that there was no inventory; there simply were not the houses to sell or buy.  If a house came on the market it was a mad rush to see it and then most likely to submit an offer.  "You snooze, you lose" became "You blink, you sink."  We all learned about escalation clauses, and how to use them to our clients' advantage.  It continued into the fall.  Even houses that had been on the market for a while hit a moment when they were discovered and multiple offers were made.  Wild.

The statistics bear this out.

Only 94 single family homes in the Skaneateles area of the multiple listing service were closed.

• Of these, 38 were in the Village (a high percentage) and 18 were waterfront. 
•  The highest -priced home was almost 4 million dollars.  
• The lowest was under $50,000.  
• Only 4 were under $100,000 and 11 between $100,000 and $200,000.  
• Seven homes sold for over one million dollars.  
• The median in the Town was $339,000 and in the Village it was $370,000.  

In 2017, 123 houses sold in the Town with 41 in the Village and 14 waterfront.

In the Skaneateles School District which includes parts of the towns of Spafford, Owasco, Sennett and Elbridge there were a total of 117 single family homes that closed in 2018.

• 20 homes were under $200,000.
• 8 were over one million
• The median was $332,000
• 25 were considered waterfront.

In 2017, 155 homes were sold in the school district.

For the past few years the sales in Skaneateles have topped out over 100 homes sold.  The median price was in the high $200,000s.  There was competition, but not like it was last year.  

What will come?  Who knows, and I mean that sincerely.  The rates went up but have now settled below where they were in September.  

I can say this with some authority:  Skaneateles will be a wonderful place to live for years to come.  It will serve all ages - a safe haven with walkable streets for the young, an easy commute to Syracuse or certainly WelchAllyn-HillRom, a marvelous Village in which to retire from the hustle and bustle.  And don't forget the tourists, the people who discover Skaneateles and never want to leave.  And yes, prices will continue to go up, but not as they have elsewhere.  As I sit here in the office looking out at the snow-covered lake, I realize what a very special place this is and how privileged I am to work here.