Real Estate Report

Finger Lakes Real Estate

Real estate in the Finger Lakes is incredibly diverse. You can purchase a vineyard, lakefront home, or historic farmhouse. If you want, you can purchase a nine bedroom Victorian in a small village, a compact condo in an upscale urban neighborhood or a barn to convert into a home using recycled materials. It’s your choice, and prices are more affordable than many other areas of the country. It’s a unique place. The Finger Lakes is one of the few places you can watch a horse and buggy, an old time truck and a BMW cruise down Main Street. Its real estate options reflect this uniqueness.

The Latest Real Estate Insights:

Despite talk of inflation, interest rates remain low and the real estate market in the Finger Lakes remains active. Unlike many regions around the country, the Finger Lakes didn’t see large price swings during the recession and its aftermath. “We are even seeing a slight increase in the number of homes sold on the Finger Lakes - some close to numbers seen before the recession,” says Brian Zerges, owner/broker of Finger Lakes Premier Properties.GRAR officials noted, “2010 overall was relatively stable in our market despite the negative effects of the national recession in other markets across the country.”

Those buyers, who remained active in the market place during the winter months will benefit from the continuing affordability of homes, as well as, the historical lows in interest rate. “We are beginning to see signs of the spring market,” says Karla Hetherington, REALTOR®. “We expect to fully see resurgence in sales toward the beginning of the Second Quarter.”

For a lakefront real estate snapshot, here’s a six month overview of the number of homes sold on some of our major lakes and their average sales price.

If you have questions about your current or future real estate needs contact the team at Finger Lakes Premier Properties.