The April 2021 market report from the National Association of REALTORS had a seeming contradiction. It was the third month in a row that existing home sales declined, yet home prices hit an all-time high of $329,100. Typically, when home sales fall, prices dip as well, signaling a developing softness in the market. But thanks to a perfect storm of circumstances, buyer demand is stronger than ever, despite rising mortgage rates and less affordability. Housing supply is down over 28% with the unsold inventory at a two-month supply, down from a 3.3-month supply from the previous year. Properties lasted 18 Read More
Lake Placid Real Estate Market Blog
Margie Philo, Real Estate Broker & Owner
Berkshire Hathaway HomeServices Adirondack Premier Properties
Join us here in the Brokers Suite, for up to date real estate news, plus Adirondack and Lake Placid real estate market information. Here we will provide you with inside tips to assist you in your purchase and offer relevant Adirondack real estate market resources.
"Where Experience Isn't Expensive, it’s Priceless."
Lake Placid Real Estate Market Expert
A Note From Our Broker
Berkshire Hathaway HomeServices Adirondack Premier Properties is a full service real estate and vacation rental firm in Lake Placid, dedicated to customer service and to old fashioned values. Treating people right, following through to be sure each transaction is completed with care, and excellence. Our agency believes in caring for each and every person. The thrill of a real estate deal is in how happy everyone is at the end, making new friends and smooth negotiations. Each of our sales agents and staff are hand picked by me, Margie Philo, Owner and Broker.
For the last 10 years we have been one of the leaders in Adirondack and Lake Placid real estate sales volume. Specializing in Adirondack waterfront, residential homes, and commercial sales; our team of professionals is here to assist you 7 days a week. Our vacation rental department has one of the largest inventories in the Adirondacks, featuring waterfront homes, condos and townhouse rentals, as well as Lake Placid vacation rental homes. We are available to help you find exactly what you’re looking for in a vacation. We welcome you to call and discuss what your dreams are, what we can do to make them happen and answer all of your questions. We are an upbeat and professional group of agents who believe in doing things right, with integrity.
Margie Philo, Broker & Owner
The pandemic caused many people to try to grab more enjoyment from life, as evidenced by the latest vacation home counties report from the National Association of REALTORS® (NAR). In 2020, vacation home sales rose by 16.4%, outpacing the overall growth in existing-home sales of 5.6%, and in 2021, vacation home sales increased 57.2% year-over-year compared to the 20% year-over-year growth in total existing-home sales. Median existing-home sale prices in vacation counties, those areas where at least 20% of homes are purchased for seasonal, occasional or recreational use, increased 14.2% compared to 10.1% in non-vacation home counties. What’s driving the Read More
RESIDENTIAL ADIRONDACK RETREAT IN JAY 2 BED | 2 BATH | $595,000 Meticulously maintained and beautifully crafted Adirondack retreat with nearly 46 acres, this 2 bedroom and 2 full bath is a year-round home. Ideal getaway for your next vacation home with fabulous views of the mountains. CLICK HERE to view more information & photos. SUNSHINE LOJ AT THE LAKE PLACID CLUB 5 BED | 3 BATH | $1,195,000 Custom home built by the prominent and renowned architects Skidmore, Owings & Merrill in the mid century style reminiscent of Frank Lloyd Wright that overlooks the 14th hole of the Read More
RESIDENTIAL CHARMING COTTAGE ON VICTOR HERBERT 2 BED | 2 BATH | $695,000 Location Location Location. Charming one level Adirondack cottage is walking distance to everything in the village and the lakes. CLICK HERE to view more. MANUFACTURED HOME IN VERMONTVILLE 4 BED | 2 BATH | $235,000 A very attractive property not far from the center of Vermontville that offers privacy and enjoyable space. Exterior of the property has a small barn area, kids play train, pool and perennial gardens which are abundant with both pear and apple trees. CLICK HERE to view more. AFFORDABLE HOME IN VERMONTVILLE Read More
WATERFRONT LONG POND CAMP 7 BED | 6 BATH | $4,495,000 A private classic Adirondack Retreat, “Long Pond Camp” located on 781 acres with two privately owned lakes and a pond. Long Pond Lake is a mile long, 45 ft deep and Lake Francis with hiking trails. Ski Titus or Whiteface Mountain, and golf at the Malone Golf Club a 36 hole Championship course. CLICK HERE to view more. COZY SARANAC LAKE CABIN 1 BED | 1 BATH | $245,000 Upper Saranac Lake deeded common beach frontage comes with this cozy, rustic cabin in the woods! Large deck for Read More
RESIDENTIAL ADIRONDACK CONTEMPORARY ON COBBLE HILL 5 BED | 2 BATH | $785,000 Adirondack contemporary situated on a lovely 1 acre lot with mature trees, privacy, and a fenced backyard. With character reminiscent of the Frank Lloyd Wright era, this home has a spacious open concept living with a massive stone fireplace in the living/great room, updated kitchen, five bedrooms, and a three car attached garage. CLICK HERE to view more. ADIRONDACK FARMHOUSE IN JAY 5 BED | 4 BATH | $399,000 This home is a gem in the sought after hamlet of Upper Jay. The 5 bedroom, Read More
Is This A Perfect Time To List? We currently have a major shortage of available housing for sale in our area. Interest rates for mortgages are extremely low and favorable for the buyers. These two factors rarely happen at the same time, making this market ideal for a successful rapid sale. Our offices and agents are busy with buyers looking for homes in every price range.
STUDENT LOANS & HOMEBUYING According to StudentLoanHero.com, you can get a mortgage loan, even with high student loan debt. It’s all in how you manage the three most important factors in getting loan approval: Down Payment: Twenty percent of the purchase price of the home is the benchmark down payment, but it’s possible to get a loan with a down payment as little as 3% such as the Fannie Mae HomeReady™ mortgage. Down payments can be gifts from parents, from your savings, or from state and local down payment assistance programs. No-down-payment loans for veterans are available from VA.gov and Read More
RESIDENTIAL FAWN RIDGE NEW CONSTRUCTION 5 BED | 3 BATH | $1,100,000 This new construction luxury home located in Fawn Ridge Lake Placid has 4000 square feet currently unfinished and waiting for your completion. Roof and Marvin windows are in, public water and sewer are connected. Electric and plumbing are already roughed in as well. CLICK HERE to view more. 2 FAMILY HOME IN SARANAC LAKE 4 BED | 2 BATH | $189,000 Nice 2 family home recently renovated inside and out with a new roof, windows, flooring, kitchen and baths. CLICK HERE to view more. RANCH IN Read More
Is This A Good Market For First Time Home Buyers? Whether you are a seller or buyer the market is now ideal for both of you. Very favorable interest rates and first time home buyer mortgage products are readily available, some with no down payment. The lack of inventory and low interest rates have boosted sales and shortened the length of time a home stays on the market. More than ever the realtor you choose needs to be the expert in the area and efficient in the sale and closing process.
What If There’s No Supply? By the end of 2020, the number of homes listed for sale in the U.S. reached an all-time low. Supply sank below 700,000 homes nationwide, according to realtor.com®‘s Monthly Housing Trends Report, and that was before the availability of COVID-19 vaccines. With consumers euphoric, it’s possible the spring homebuying season could have even less inventory available. If you want to buy a home, what do you do if there’s little to no supply? Follow these suggestions: Trust your Berkshire Hathaway HomeServices network professional. Having a good relationship with a knowledgeable agent is your best chance at finding Read More
RESIDENTIAL COTTAGE ON BLOOMINGDALE AVE 4 BED | 1 BATH | $199,000 This lovely well priced home in the heart of the village is in a fantastic location with walking distance to downtown shops, restaurants, farmers market, carousel, and the beach. CLICK HERE to view more. SARANAC LAKE RANCH 2 BED | 2 BATH | $249,000 Very well maintained village home centered on a triple lot with nice landscaping. The large living area also has bonus rooms in the lower level with a family room and fireplace. There is also an office. Some other rooms could be converted Read More
How Do I Choose the Best Real Estate Company to Market My Home? When choosing the right realtor and company to market your home consider their abilities to market the home. We are the only full time global and local company here with over 1500 interconnected offices and employing a full time photographer and marketing director. Our services include 3D photography, Drone aerial photography, still photography and extensive advertising.
RESIDENTIAL KEENE VALLEY GEM 6 BED | 2 BATH | $499,000 Move-in ready two-story home in the heart of the desirable Keene Valley, located on a large level lot, minutes from skiing, hiking, swimming and relaxing in the Adirondacks. A perfect place to call home or an excellent investment opportunity. This property is being sold fully furnished and has flexible space with numerous options for guests or vacation rentals. The interior has been meticulously renovated , just awaiting your own personal touch on the exterior, and as a bonus the seller is offering a generous credit for completion of that Read More
RESIDENTIAL Garden Side Cottage 1 BED | 1 BATH | $395,000 The Garden Side Cottage, is a charming cottage built in 1930 and completely renovated in 2020. For those buyers seeking a turn key condition experience, and within walking distance to all shops, restaurants and the Olympic Skating Arenas don’t miss this opportunity. Click Here to view more. Colonial In Tupper Lake 4 BED | 1 BATH | $189,500 Circa 1913 home located on a double lot on the quiet Park Street in Tupper Lake. This Craftsman style home features original hardwood floors, expansive living room with brick Read More
Residential LAKE PLACID CAMP 4 BED | 2 BATH | $475,000 An original Adirondack style camp waiting for updates and renovations. CLICK HERE to view more. SARANAC LAKE RANCH 4 BED | 2 BATH | $315,000 Wonderful 3 bedroom village home that has been lovingly cared for with a detached barn. CLICK HERE to view more. BLUE JAY COTTAGE 3 BED | 2 BATH | $190,000 Immaculate sun filled home with cathedral ceilings and large southern facing windows. CLICK HERE to view more. SARANAC LAKE VILLAGE HOME 5 BED | 3 BATH | $248,000 A historic Read More
WATERFRONT VIEWS OF LAKE PLACID 4 BED | 3 BATH | $1,195,000 First time offered for this custom built three level home at the Whiteface Club with outstanding expansive Lake Placid and Mountain Views. CLICK HERE to view more photos & information. BACK ON THE MARKET! GREAT CAMP ON LAKE PLACID 4 BED | 3.5 BATH | $5,895,000 Nestled on the shores of Lake Placid you will find this year round stunning home with superior craftsmanship throughout. CLICK HERE to view more photos & information. LOTS & LANDS RIVER ROAD LOT .60 ACRES | $10,500 Unique nature within the Read More
RESIDENTIAL OLYMPIC HILLS CHALET 3 BED | 2 BATH | $539,000 Every inch of this desirable 3 bedroom 2 level home with a private setting in sought after Lake Placid Olympic Hills neighborhood has not been overlooked. CLICK HERE to view more information & photos. CUSTOM ADIRONDACK HOME ON OVERLOOK 4 BED | 4 BATH | $1,295,000 An Adirondack architecturally custom built home with attention to detail and every comfort and amenity imaginable on 3 levels of craftsmanship. Click Here to view more information & photos. WATERFRONT LAGOON HOUSE ON LOON LAKE 5 BED | 4 BATH | $995,000 Read More
Residential School House Lodge 2 BED | 1 BATH | $379,000 Lovely country home surrounded by mature fir trees and directly across from Mt Van Hoevenberg Ski Center. Enjoy the spacious open kitchen and dining floor plan with a large living room and a new woodstove. CLICK HERE to view more photos & information. Ranch In Saranac Lake 2 BED | 1.5 BATH | $179,000 This well priced home has a convenient location in a quiet neighborhood only minutes from Lake Placid or Saranac Lake. The property has easy living on one level with an open floor plan, spacious living Read More
WATERFRONT Cabin On Lake Colby 3 BED | 2 BATH | $495,000 This unique year round cabin is situated on the shores of Lake Colby with the most amazing fishing in the area. The 40 foot deck right off the kitchen catches every sunset. The screened in porch is a great separate space for outdoor entertaining. Click Here to view more. Camp Island View 8 BED | 5 BATH | $1,650,000 510′ lakefront property with it’s own private island located on the west shore of Long Lake. THIS PROPERTY WILL HAVE A RESERVE AUCTION TO BE SOLD ON Read More
WATERFRONT Sheldon Farm on Lake Champlain 5 BED | 4 BATH | $1,895,000 Spectacular early 20th century estate located in Essex on Lake Champlain w/ fabulous panoramic views of the lake & mountains of Vermont. Approx. 600′ of waterfront, 63± acres of open land w/ numerous well-maintained barns, sheds and a lovely pond. Click Here to view more. RESIDENTIAL Saranac Lake Cottages 6 COTTAGES | $199,000 Adorable and clean cottages for sale, two of which are two bedrooms, four cottages are one bedroom units. Click Here to view more. Rainbow Lake Log Home 3 BED | 2 Read More
Residential Eagles Nest Lodge 3 BED | 3 BATH | $495,000 Desirable 3 bedroom ranch style home with private setting in sought after Lake Placid neighborhood, minutes from Main Street, and no village taxes. CLICK HERE to view more information & photos. Thorn Cottage 2 BED | 2 BATH | $549,000 An original Lake Placid Club cottage built in 1900 but completely renovated in 2002 and just a short walk to Mirror Lake and the Main Street shops and restaurants. CLICK HERE to view more information & photos Lovely Classic Home 2 BED | 2 BATH | Read More
WATERFRONT CAMP CAVENDISH 9 BED | 6 BATH | 2 HALF BATH | $2,900,000 Camp Cavendish, is a rare opportunity to purchase a private, historic Adirondack Camp on Lake Placid with spectacular views and beautiful nightly sunsets. Click Here to view more information & photos. CAMP UNDERCLIFF 7 BED | 3 BATH | $1,900,000 Camp Undercliff once owned by the New York Central Railroad was operated as a music camp from 1940 to 1963. On the west shore boat access, the views are fantastic and the swimming and fishing are ideal with a large sitting dock. Click Here to Read More
RESIDENTIAL Contemporary Lake Placid Home 5 BED | 4.5 BATH | $975,000 Wonderful home with a large new addition and meticulously and completely renovated by the owner/ builder with no expenses spared. This is one of the Mirror Lake Drive owners that share a beachfront on Mirror Lake across the street and just a short walk away. Click Here to view more photos & information. North Branch Cabin 3 BED | 1 BATH | $184,000 Private, renovated three season cottage on one acre with access to Rainbow Narrows for swimming, kayaking or canoeing. Click Here to view more Read More