Smart911 working to create a safer community
Chautauqua County has introduced an enhanced 9-1-1 service called Smart911 available for free to all residents. The Chautauqua County Sheriff’s Office is encouraging all citizens to create a Safety Profile at www.smart911.com, and provide 9-1-1 with the information they need to assist you in the event of an emergency. A profile can include as much or as little information as you want, such as: Read more »
Here are the statistics for Chautauqua County real estate April 2012 compared to April 2013. We see a nice increase in both average and median price for single family homes. The 
list-to-close percentage however did decrease. So while buyers are getting a better deal in relation to the list price, sellers are managing to get on average more for what they are listing. If you have questions regarding this report or any other question about Chautauqua County NY real estate, please feel free to call our office at 716-338-2277.
Chautauqua County’s real estate is holding its own for March 2013. Our reports show an improvement over the same month last year. The number of new and sold listings is
down. However the averages are up. In both the overall line and single family line below you will see an increase in the average list price and closing price. It’s also good to note the list-to-close ratio is steady.
Investors saw a good month. Of course our market is smaller, but the multi-family ratio is down from this month last year. That is good for investors Read more »
Chautauqua County NY Home Affordability
Just a quick note of home affordability in Chautauqua County NY. This is presented as quick notes, not dialogue.
In March 2000- 30 year fixed rate mortgages averaged 8.39%
In February 2013- 30 year fixed rate mortgages averaged 3.8%
In a scenario with a 30 year mortgage borrowing a full $89,000 the monthly principal and interest payment would be:
March 2000- 8.39% = $668.44
February 2013- 3.8% = $413.20
Total difference for term of loan reflected in interest paid = (-$91,888) (Yes, that’s less interest paid.)
Add to this that Chautauqua County has some of the most affordable housing in the county. Getting a decent $90,000 house is still a common occurrence here.
Using the following criteria- Active, single family, 3 bedrooms, $50,000 to $100,000- a home buyer would have 187 listings come up county wide as of today.
There are of course, many factors in figuring the cost and savings in home buying. But the point being made here is that if you waited so you could save, now would be the time to seriously consider buying.
In these two reports we have highlighted single family homes.
For February the listings have gone down but the closings have gone up.
The average list price and average sale price have both gone down.
Some if this is seasonal. Other reports indicate that some higher price
listings sold last year. Also to note is that the list-to-close
ratio did go up. Sellers and their agents appear to be pricing more
in line with what buyers are willing to pay.
REPORT FROM 2/1/2013 TO 2/28/2013
| Property Type | New | Closed | AVG Listprice For Closed | AVG Sellprice | % | AVG DOM |
| Commercial | 9 | 3 | 98,133.33 | 88,333.33 | 90.01% | 68 |
| Condo/Townhouse/Co-Op | 13 | 3 | 206,333.33 | 196,166.67 | 95.07% | 229 |
| Lake/Water | 14 | 4 | 196,875.00 | 172,955.00 | 87.85% | 154 |
| Land | 14 | 3 | 37,466.67 | 33,000.00 | 88.08% | 219 |
| Multi-Family | 6 | 9 | 26,972.22 | 24,233.33 | 89.85% | 78 |
| Single Family | 81 | 42 | 104,214.88 | 96,652.38 | 92.74% | 152 |
| Overall | 138 | 64 | 100,516.80 | 92,528.44 | 92.05% | 145 |
REPORT FROM 2/1/2012 TO 2/28/2012
| Property Type | New | Closed | AVG Listprice For Closed | AVG Sellprice | % | AVG DOM |
| Commercial | 9 | 2 | 114,500.00 | 70,000.00 | 61.14% | 171 |
| Condo/Townhouse/Co-Op | 4 | 3 | 284,800.00 | 254,000.00 | 89.19% | 112 |
| Lake/Water | 26 | 4 | 386,950.00 | 362,625.00 | 93.71% | 97 |
| Land | 23 | 1 | 11,000.00 | 7,500.00 | 68.18% | 258 |
| Multi-Family | 7 | 7 | 55,099.86 | 46,552.00 | 84.49% | 155 |
| Single Family | 88 | 37 | 140,806.73 | 126,337.97 | 89.72% | 132 |
| Overall | 159 | 54 | 152,550.89 | 136,303.13 | 89.35% | 135 |
I included this report to highlight the median closed price comparison for February 2012 to 2013. This has gone down which is disappointing but could reflect more accurate pricing on the part of sellers and agents.
Closed
Single Family
2/1/2013-2/28/2013
$1 – $5,000,000
2013 2012
Listings Queried: 47 42
Total Listing Price: $5,063,525.00 $6,829,649.00
Average Listing Price: $107,734.57 $162,610.69
Total DOM: 7,250 5,409
Average DOM: 154 129
Total Closing Price: $4,687,720.00 $6,185,005.00
Average Closing Price: $99,738.72 $147,262.02
Median Closing Price: $86,000.00 $96,625.00
In these two reports we have highlighted single family homes.
Chautauqua County has seen some good gains.
The inventory has gone up as well as the list price.
Along with this, Chautauqua County homes that sold in
January 2013 closed for an average higher than that of 2012.
The list-to-close ratio did however go down
thought just 0.5% Overall we see some good stability.
| Property Type | New | Closed | AVG Listprice For Closed | AVG Sellprice | % | AVG DOM |
| Commercial | 8 | 2 | 227,450.00 | 150,000.00 | 65.95% | 509 |
| Condo/Townhouse/Co-Op | 14 | 1 | 99,900.00 | 88,400.00 | 88.49% | 187 |
| Farm | 1 | 1 | 139,000.00 | 139,000.00 | 100.00% | 41 |
| Lake/Water | 22 | 5 | 184,740.00 | 166,295.00 | 90.02% | 104 |
| Land | 7 | 5 | 39,640.00 | 33,700.00 | 85.02% | 330 |
| Multi-Family | 17 | 4 | 29,950.00 | 25,765.82 | 86.03% | 471 |
| Single Family | 99 | 44 | 104,329.25 | 95,921.02 | 91.94% | 176 |
| Overall | 168 | 62 | 105,257.85 | 94,370.38 | 89.66% | 210 |
| Property Type | New | Closed | AVG Listprice For Closed | AVG Sellprice | % | AVG DOM |
| Commercial | 10 | 5 | 100,580.00 | 77,000.00 | 76.56% | 313 |
| Condo/Townhouse/Co-Op | 7 | 3 | 235,962.67 | 219,533.33 | 93.04% | 107 |
| Farm | 0 | 1 | 79,900.00 | 70,000.00 | 87.61% | 70 |
| Lake/Water | 14 | 3 | 182,833.33 | 162,533.33 | 88.90% | 177 |
| Land | 12 | 3 | 80,066.67 | 75,400.00 | 94.17% | 115 |
| Multi-Family | 11 | 3 | 55,666.67 | 50,000.00 | 89.82% | 187 |
| Single Family | 79 | 29 | 84,141.38 | 77,776.72 | 92.44% | 126 |
| Overall | 133 | 47 | 99,712.51 | 90,062.23 | 90.32% | 150 |
When searching for Chautauqua County homes for sale on the internet you have many options. No doubt you are familiar with the national syndication sites like Realtor
, Trulia and Zillow. These sites tout how many listings they have. It may seem that the more listings they have then the more likely that you are to find something that suits you. This is not always true.
Then there are locally owned real estate sites. These sites focus on a particular county or set of counties or some other geographical area. The large syndication sites would like you to believe that using a locally owned real estate Read more »
Finding The Best Chautauqua County Real Estate AgentIf it’s time to sell your Chautauqua County home, or to purchase real estate in the area, here is some help in finding a quality agent. Being an effective real estate agent calls for a certain type of person. We have here a quick list of the more important qualities to look for.
Yes, this is obvious. Whether in Chautauqua County or somewhere else, honesty is a requirement. But how do you know if an agent is honest? You have heard all real estate is local. An agent’s reputation is local as well. Ask around. Don’t ask other agents. Ask someone you know who has used the agent your interviewing. Also, what is their demeanor when you meet with them face to face? Something else that can help: When they do your home valuation, are they overselling? If you suggested a higher list price or value how do they handle that? Do they just say OK? Or do they explain their concerns as to why they would prefer to use the numbers they have obtained. In the end Read more »
What’s your home worth!
The Chautauqua Lake area is beautiful. And while most people in the area would prefer to stay, moving may be a necessity for various reasons. When the time comes to sell your Chautauqua County home you may be like many and wish to make a go at it yourself. If so, these tips will help greatly.
You may however prefer to hire a professional: a Realtor. Marketing, scheduling showings, engaging other real estate agents, not to mention the details in the transaction process, all take time. An experienced professional Realtor can help.
Whether selling your home yourself of hiring a Realtor, the following tips will give you a foundation for success. Every circumstance is different. This is just the starting point. Do a search on Google for each area. (While your there visit my Google+ profile and circle me!). Don’t overdo the research. Keep it simple and you may even enjoy it.
Under price a home and obviously you will not make as much as you should or may need. Over pricing can also have negative consequences. The longer a home is on the market the more expectation on the part of buyers that they will be able to make lower offers.
Get a CMA or Home Valuation. We strongly discourage online instant valuation tools. A computer cannot see the home. It cannot calculate the quality of construction, the design enhancements and other features. It can be a starting point. Even here we don’t recommend them. They give a false sense of value. Usually to high a value.
So, what can you do? Most real estate agents will provide a free Read more »
Search the Chautauqua County MLS system here!
Chautauqua County like everywhere else has seen it’s real estate activity up and down. The year end statistics show a slightly improved market overall. However when segmenting the statistics there are some gains and some losses. Here are a few short reports.
Closed – Single Family- Entire MLS – Full Year $1 – $5,000,000 2011 2012 Listings Queried: 832 754 Total Listing Price: $110,274,164.00 $104,285,919.00 Average Listing Price: $132,541.06 $138,310.24 Average DOM: 136 140 Total Closing Price: $100,342,059.59 $94,927,493.01 Average Closing Price: $120,603.44 $125,898.53 Median Closing Price: $82,450.00 $84,000.00
The above report shows a few things. 2012 saw less inventory move to close.The average list price was higher. The average DOM (Days on market) was more. The wait on the part of sellers seems to have Read more »
