Finger Lakes Premier Properties is the region’s lakefront specialists for sales across the Finger Lakes. Our team of highly knowledgeable, experienced, and successful Buyer and Seller Specialists provide a complimentary analysis of lakefront market trends each quarter.
- Fewer homes on the market are leading to fewer homes sold
- Lakefront homes are selling faster than last year
- We are seeing more action in the <$500,000 market, which is driving down the average sales price
Our real estate team has succeeded in holding onto the top spot as the lakefront sales market leaders in the Finger Lakes through Q2. Our closest competitor’s lakefront transactions accounted for less than 45% of their total sales volume, compared to ours at over 90%. Our team captured 25% of all business on Seneca Lake and leads the market for purchasing sales on Cayuga Lake.
Lakefront Real Estate Trends“
Our lakefront sales specialists comment on market conditions from Q2 and trends to look for on the lakes in Q3.
“Overall, we’re seeing a neutral market, where neither the buyer or seller has an advantage. With a smaller inventory, serious buyers are acting fast on securing their ideal lakefront home. However, they are much more price conscious, which is why the Seneca and Cayuga Lake markets performed really well through Q2. We expect to see continued growth on those lakes.”Cynthia Emerling, Director of Listing Services/ Associate Broker
“We see things quiet down during the last stretch of Q2 and most of Q3, while homeowners are using their lake houses and collecting peak season rent, but we expect the market to pick up this fall on the lakes. Buyers are increasingly price driven and conscious of how high their taxes will be. This makes short-term renting appealing.”Dave Lucchesi, Lakefront Buyer Specialist/ Associate Broker
Download the printable Q2 Lakefront Real Estate Report here: