The First Twenty

 Skaneateles has been a busy place for sales and closings so far this year.  I will start with the first 20 single family properties to close according to the multiple listing service.  This was accomplished by February 24th!  

The Town

2795 County Line Road              $1,809,860

2699 East Lake Road                      $920,000

2512 Lakeway Lane                       $799,500

1155 Hencoop Road                       $714,000

4011 State Street Road                   $599,500

1625 Pork Street                              $369,900

3703 Highland Ave                         $369,000

3719 Highland Ave                         $350,000

1614 Stump Road                           $326,000

2935 West Lake Road                     $300,000

878 Franklin Street                          $275,000

3396 East Lake Road                      $200,000

675 School Street                            $193,000

1901 Coon Hill Road                      $167,500

4708 Jordan Road                             $73,000

The Village

22 Lakeview Circle                        $869,000

24 Onondaga Street                        $699,900

24 West Elizabeth Street                 $450,000

36 Onondaga Street                         $351,000

73 State Street                                  $295,000

Skaneateles Real Estate - The Real Update

 I wrote last on April 1st, and repeated a blog written 9 years ago.  The world was a different place then - no pandemic, Trump just a crazy real estate guy, WelchAllyn was still WelchAllyn, and there were very few million dollar homes.  It's different today.

Currently there are 16 single family properties for sale in the Skaneateles area of the multiple listing service.  Sixteen.  Of these, 6 are in the Village.  They range in price from $245,000 to 7.5 million. Eleven of these properties are over a million.  Ten are waterfront.  The median price is 2.9 million.

There are 19 homes under contract.  The median price in this category is $479,000, with only one over a million under contract.

If you look at Skaneateles Schools, you can add 4 in Spafford.  Wow!  Only 20 to choose from if you want the school district.

There are 30 single family homes sold so far this year.  Their prices range from $73,000 to 1.8 million.  The median is $369,000.  Seven are in the Village.

So let's compare:

In 2012 I said there were only 98 listings.   I predicted 2 Village listings would sell in the next 4 months.  These days, you can guess in the next 4 days.

Similarly, 25 homes were under contract.  Only 20 had closed.  That range was $128,000 to $980,000.  The median then was $269,000.  Of these, 40% were in the Village while today the percentage is 25%.

The greatest difference are the number of single family homes for sale.  HUGE!  And that 2012 figure was coming off highs close to 150 homes.  Imagine!  And yet the prices were relatively high, certainly the highest in Onondaga County and really, the median is only $100,000 lower than 2021's current median. 

Inventory.  It's all inventory.  I'd also add in the higher pricing of homes.  It's not the same market at all.

Oh yes - my favorite part is how low the rates were: 5%!  Today you can get a mortgage for a little over 3%.  Who knew?  And.......what's coming?

Skaneateles Real Estate - An Update

 I started the day off with a bang.  It was a hair day, so I went in to Carlo's on West Genesee in Syracuse.  The proprietor and owner, Carmen Logan, was celebrating his 75th birthday and looking great.  A client brought in champagne, and there we all were, sipping out of plastic cups at 9:30 in the morning.  I could get used to this!

Currently there are only 98 active listings in the Skaneateles area of the multiple listing service.  Of these, 30 are in the Village and 26 are considered waterfront.

Two new listings came on.  One is a lovely Village home priced to sell in the mid-$300,000 range.  Another is just at the end of the Village for well under $200,000.  I predict both will be gone by September 1st.

There are 12 properties marked under contract, none of which are new.  Thirteen others are pended, with one new one, a home needing work but having a great deal of acreage.

We have now reached the magic number of 20 for closings!  Very early this year, compared with other years.  The latest closing was a small Village home.

The lowest priced house this year sold for $128,000 and the highest for $980,000.  The median, as I am sure JT will ask, is a sale price of $269,000.  Of real significant interest is the fact that 40% (8) homes that closed are Village homes.  They seem to be selling well - is it the gas prices or just the houses themselves?

Please consider buying now.  The rates are the lowest they have been but who knows when they will rise.  You can get so much more house than you can for the same price even at 5% interest.  Do not wait!  Consider this a warning!

I hope you have realized by now that this is an April Fool's Day blog.  The actual date of publication was April 18, 2012.   I like going back and seeing the prices, the comments - "Do not wait!"  I wonder how many heeded that warning and bought then.  I can imagine they are doing quite well.  Carmen is still looking great, by the way....