A modest 1,134-square-foot cottage on Skaneateles Lake recently sold for an impressive $1.8 million. This sale highlights a trend of high-value property transactions in Onondaga County, even for smaller lakeside homes. The property includes a unique structure at the water's edge, adding to its appeal.
Key Takeaways
- An 1,134-square-foot cottage on Skaneateles Lake sold for $1.8 million.
- The home was built in 2017 and features two bedrooms and one bathroom.
- Onondaga County recorded 110 home sales in one week.
- Lakeside properties continue to command premium prices.
Onondaga County Housing Market Activity
During a recent week, the Onondaga County Clerk’s office registered a total of 110 home sales. This volume of transactions indicates a vibrant and active local real estate market. The sales data, publicly available, provides a snapshot of current housing trends and property values across the county.
The range of properties sold is broad, from smaller residential homes to larger commercial and agricultural plots. This diversity suggests interest from various buyer segments, including those seeking primary residences, vacation homes, or investment opportunities. The overall market shows sustained activity.
Market Snapshot
- Total Home Sales: 110 (recorded in one week)
- Most Expensive Residential Sale: $1,800,000
- Property Type: 2-bedroom, 1-bathroom cottage
- Location: Skaneateles Lake
Details of the Skaneateles Lake Sale
The most expensive residential property among the recent sales was the lakeside cottage. Located directly on Skaneateles Lake, the home’s appeal extends beyond its compact interior. Built in 2017, it offers modern construction in a highly desirable location. The lot itself is relatively small, but the lake access is a significant draw.
According to public records, the cottage features two bedrooms and one bathroom. Its 1,134 square feet provide a comfortable living space, designed to maximize its prime waterfront position. The value is clearly tied to its location and the unique amenities it offers.
"Lakeside properties in areas like Skaneateles often command premium prices due to their scarcity and the lifestyle they offer," said a local real estate analyst. "Buyers are willing to invest significantly for direct water access and scenic views."
Unique Waterfront Features
A notable aspect of the Skaneateles Lake property is its additional structure located at the water's edge. This structure includes a rooftop deck, providing panoramic views of the lake. It is designed for storing fishing gear and other recreational equipment, enhancing the property's utility for water enthusiasts.
Such features add considerable value, particularly in areas where direct lake access and custom amenities are highly sought after. The combination of modern construction and unique waterfront facilities justifies the significant price tag for this cottage. It represents a lifestyle purchase for many buyers.
Broader Real Estate Trends in Onondaga County
Beyond individual home sales, Onondaga County has seen a variety of property transactions. Recent reports indicate sales ranging from farmland to commercial buildings, including restaurants and office spaces. This diverse activity suggests a robust and multifaceted real estate market.
For example, some business and land sales have reached up to $2.15 million, while others have been as low as $1. This wide spectrum reflects different market segments and investment opportunities. The county continues to attract both residential and commercial interest.
Context: Skaneateles Lake
Skaneateles Lake is one of New York's Finger Lakes, known for its pristine waters and scenic beauty. It is a popular destination for recreation, tourism, and luxury residential living. Properties along its shores are highly valued due to limited availability and stunning natural surroundings.
The consistent reporting of these sales from public records ensures transparency in the market. This data allows potential buyers and sellers to gauge property values and market conditions accurately. It also highlights areas of particular demand, like waterfront properties.
Investment in Commercial and Agricultural Properties
Recent transactions also include significant sales in the commercial and agricultural sectors. A funeral home, a bank, and even a supermarket were among the properties changing hands, with prices reaching up to $1.5 million. Farmland sales also contribute to the county's active real estate landscape.
These commercial transactions demonstrate investor confidence in the local economy. They reflect ongoing development and business growth within Onondaga County, extending beyond just residential housing. The diverse nature of these sales underscores the county's economic vitality.
- Business Sales: Include restaurants, office buildings, banks, funeral homes, and supermarkets.
- Land Sales: Farmland and development plots are frequently traded.
- Price Range: From $1 for certain land parcels to over $2 million for significant commercial properties.
The consistent flow of property sales, both residential and commercial, paints a picture of a dynamic market. This activity is a key indicator of economic health and growth in the region. Local officials and residents alike monitor these trends closely.
Understanding Property Value Factors
The high price of the Skaneateles Lake cottage illustrates several factors that drive property values. Location is paramount, especially for waterfront properties. The desirability of Skaneateles Lake as a serene and exclusive area significantly boosts property worth.
Furthermore, the age and condition of the home also play a role. Being built in 2017, the cottage benefits from modern construction standards, which often means fewer immediate maintenance concerns for new owners. The unique water-edge structure is another value-added component.
Even small homes can fetch substantial prices if they offer exceptional features or are in highly sought-after locations. The market in Onondaga County demonstrates that buyers are willing to pay for premium amenities and prime real estate, especially when it comes to waterfront access. This trend is likely to continue as demand for such properties remains strong.
