Yates, Schuyler see median home prices increase
The median home sale price in Yates County for 2013, $133,000, was the highest annual price since 2008.
“I’m seeing positive things happen in the real estate market,” Jim Moon, realtor for Nothnagle Realtors. “Sales were more positive in 2013 than they had been in the last few years.”
According to the Greater Rochester Association of Realtors the median single-family home sale price was $127,000 in 2012, $119,900 in 2011, $109,500 in 2010, $103,000 in 2009, and $113,000 in 2008. However, the median price was higher in 2007 at $133,250.
The increase in the median price, 2013 over 2012, is 4.7 percent. According to the GRAR, the number of homes sold also went up. In 2013, 224 single-family homes were sold in Yates County. There were 211 homes sold in 2012, equaling a 6.2 percent increase.
Moon said he has seen more newer houses being sold. He attributed the increases to the attraction from the wineries. Moon explained the increase in wineries means “more people come to see them.” From the visitors, Moon said some love the area so much they want buy a home here.
“They’re pleasantly surprised the price is less than metropolitan places,” said Moon.
As an example, Moon said he just had a couple move here from Long Island who originally bought a secondary home after visiting the area 12 years ago.
“I like seeing development in the area. I like seeing businesses grow,” Moon added. He explained businesses start here and grow, needing more workers.
Mark Malcolm, CENTURY 21/Sbarra & Wells realtor, said lakefront home sales have stabilized but added there is “enough inventory for the number of buyers.” He added the lakefront home market, which he specializes in, is much different from the rest of the Yates housing market. He explained 2013 was much slower in the first half of the year than the same time in 2012. However, Malcolm added, “mid-July to November has never been busier.”
“Based on the pendings and closings, we finished as strong as 2012,” said Malcolm. He added though that sales were more spread out in 2012.
The number of single-family homes sold in Schuyler County was down 6.5 percent in 2013, when compared to 2012.
According to the Elmira-Corning Regional Association of Realtors, 100 homes were sold in Schuyler throughout 2013. In 2012, the number was 107, down 6.5 percent.
The median price increased slightly during the same time. The Elmira-Corning association said the median price last year was $124,900. In 2012, it was $122,500, up 1.9 percent.
“Keep in mind that these statistics only include those sales that were listed/reported in the Elmira-Corning Regional Association of Realtors’ (multiple listing service), not any private sales,” said Lori Shaylor, association executive officer.
Diane Cooper, owner of Reality Realty, called the resulting situation a buyer’s market. She explained this means there is enough interest from buyers and enough choices that they won’t make a final decision quickly. Cooper said buyers are not as motivated to move quickly in a sale. She added in a seller’s market, buyers will often hurry to make an offer on a home when they find the right property.
Cooper added in the cottage market, she has seen the higher- and lower-end cost cottages selling better than the middle ground price homes. However, she said what she saw most often was a reduction in prices.