Last year I predicted that there would not be over 100 closings in the Skaneateles area of the multiple listing service. I was accurate up to December 10th, when there was a sudden flurry of activity and we went over the 100 mark to 107. I like being wrong! It was true that we did not have the record-breaking year of 2012 (129 closings) or 2013 (116 closings), but over 100 is still excellent.
My rationale for such a prediction still exists. The rates are up a bit, the number of homes on the market are down, and that combination should make for a slightly less bullish year. Which it did. Today the rate for a 30-year mortgage is an easy 3.73% compared with last year's rate of 4.51%. The years before we were seeing around or under 3.0%. The number of active listings - an incredible 76! We haven't seen numbers like that for years.
Some of the explanation for this is of course the winter doldrums. Last year was horrible - no one wanted to go outside for months and months. Selling waterfront is difficult this time of year - but if you like the home in January you will love it in July!
So my prediction stands another year - under 100 homes will be sold in the Skaneateles area of the multiple listing service. We just don't have the numbers.... Now - go out there and prove me wrong again!
And remember, because of the very few homes on the market - if you see it and like it, buy it! You may not get a second chance.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment