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ADIRONDACK 2020 MARKET REPORT


THE ADIRONDACK’S LEADING REAL ESTATE FIRM $175M IN TOTAL SALES VOLUME 294 TRANSACTIONS

REPRESENTING 275+ LISTINGS

2020


NORTHERN ADIRONDACK REAL ESTATE 2020 ANNUAL MARKET REPORT LAKE PLACID

BOQUET VALLEY

KEENE & KEENE VALLEY

SARANAC LAKE

JAY/UPPER JAY

WILMINGTON

TUPPER LAKE

LONG LAKE

SPECIFIC DATA COLLECTED HEREIN BASED ON OUR MARKET AREA


INTRODUCTION 2020 was a year like no other! For the 1st quarter we had no business at all. By May 1st the COVID pandemic had fueled a panic escape from the cities to the mountains. Communities across the Park’s 6 million acres were bustling with folks seeking refuge in a safer and quieter environment.

OUR FIRM YEAR OVER YEAR

40%

SALES TRANSACTIONS

Buyers flocked to the Adirondacks in hopes of securing a safe work enviroment. A place where social distancing meant total avoidance. - Nicholas Politi

As a result, sales transactions took off, people started buying properties sight unseen, relying

$175M TOTAL SALES VOLUME

solely on our virtual tours and quality videos. Our sales volume for the year ended up 40% higher than previous year totaling $175M which smashed a record high of $122M in 2018. To date, our transaction volume is over $500M in just a short 3 year time period. The year ended with a diminishing inventory and strong consumer demand. Going forward we anticipate that the market will remain strong. So if you’re in the market to sell, now is the time!


These extraordinary results are a testament

OUR TEAM OF PROFESSIONALS

to our experienced and knowledgeable sales team together with their ability to secure wellpriced offerings. We are pleased with our production, but more importantly we are proud of the way we do business, and we look forward to helping you. There is no better lifestyle than here in the mountains.

Roby and Nick Politi Owners - Licensced Real Estate Brokers

Over the years we have marketed and sold some of the most prestigious properties in the region including Marjorie Merriweather Post’s Camp Topridge, Mary Lou Whitney’s Camp Togus, Shania Twain’s Loon Echo and Kate Smith’s Camp Sunshine just to name a few. Today, we have a great inventory of luxury waterfront getaways on an assortment of lakes.

LE A R N M O R E AB O U T U S AT AD IR O NDAC K E STAT E S . CO M Source of all data contained in this report is the Adirondack Champlain Valley, Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Merrill L. Thomas, Inc. Broker for more information.


ADIRONDACK CHAMPLAIN VALLEY SALES VOLUME COMPARISON

$1,106M

$775M $661M

2016

$736M

$702M

2017

2018

2019

2020

Source of all data contained in this report is the Adirondack Champlain Valley, Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Merrill L. Thomas, Inc. Broker for more information.


ADIRONDACK CHAMPLAIN VALLEY TRANSACTION VOLUME COMPARISON

4402

3616

2016

3826

2017

3844

2018

3690

2019

2020

Source of all data contained in this report is the Adirondack Champlain Valley, Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Merrill L. Thomas, Inc. Broker for more information.


MERRILL L. THOMAS, INC. SALES VOLUME COMPARISON

$175M

COMPANY RECORD BREAKING YEAR FOR SALES VOLUME

$122M $93M

$110M

$85M

2016

2017

2018

2019

2020

Source of all data contained in this report is the Adirondack Champlain Valley, Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Merrill L. Thomas, Inc. Broker for more information.


MERRILL L. THOMAS, INC.

TRANSACTION VOLUME COMPARISON

294

COMPANY RECORD BREAKING YEAR FOR TRANSACTIONS

197

231

209

165

2016

2017

2018

2019

2020

Source of all data contained in this report is the Adirondack Champlain Valley, Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Merrill L. Thomas, Inc. Broker for more information.


LAKE PLACID

HOME SALES YEAR OVER YEAR HOME SALES YEAR OVER YEAR

70% TOP 5 HOMES SALES IN 2020 PROPERTY ADDRESS

SOLD PRICE

128 LODGE WAY

$4,500,000

189 RUISSEAUMONT WAY

$3,150,000

578 MT. WHITNEY WAY

$3,000,100

49 SAND POINT WAY

$2,895,000

193 RUISSEAUMONT WAY

$2,200,000

PRICE CATEGORY

2019 SALES 2020 SALES % CHANGE

UNDER $500K

59

66

11%

$500k - $999K

25

63

125%

$1M - $1.99M

3

22

86%

$2M - $2.99M

-

6

633%

$3M - $4.99M

1

2

100%

$5M - $9.99M

-

-

-

OVER $10M

1

-

-100%

89

152

70%

$400,000

$539,000

35%

SALES TRANSACTIONS MEDIAN PRICE DOLLAR VOLUME

$56,000,000 $131,600,000

LAND SALES

2019 SALES 2020 SALES % CHANGE

SALES TRANSACTIONS MEDIAN PRICE DOLLAR VOLUME

135%

11

34

209%

$150,000

$300,000

100%

$2,784,000

$17,800,000

36%

Source of all data contained in this report is the Adirondack Champlain Valley, Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Merrill L. Thomas, Inc. Broker for more information.


SARANAC LAKE

HOME SALES YEAR OVER YEAR HOME SALES YEAR OVER YEAR

35% TOP 5 HOMES SALES IN 2020 PROPERTY ADDRESS

SOLD PRICE

57 ST. REGIS CARRY ROAD

$5,210,000

19 HERON LANE

$4,225,000

686 BARTLETT CARRY ROAD

$2,450,000

5096 STATE ROUTE 30

$2,419,560

50 LOWER SARANAC ROAD

$2,400,000

PRICE CATEGORY

2019 SALES 2020 SALES % CHANGE

UNDER $500K

112

140

25%

$500k - $999K

11

17

54%

$1M - $1.99M

4

10

150%

$2M - $2.99M

1

4

300%

$3M - $4.99M

-

1

100%

$5M - $9.99M

-

1

100%

OVER $10M

-

-

-

127

172

35%

$220,000

$258,000

17%

SALES TRANSACTIONS MEDIAN PRICE DOLLAR VOLUME

$39,800,000 $75,935,000

LAND SALES

2019 SALES 2020 SALES % CHANGE

SALES TRANSACTIONS MEDIAN PRICE DOLLAR VOLUME

90%

15

14

-6%

$64,000

$71,000

11%

$1,294,000

$1,690,000

30%

Source of all data contained in this report is the Adirondack Champlain Valley, Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Merrill L. Thomas, Inc. Broker for more information.


WILMINGTON

HOME SALES YEAR OVER YEAR HOME SALES YEAR OVER YEAR

57% TOP 5 HOMES SALES IN 2020

PRICE CATEGORY UNDER $500K

14

18

28%

$500k - $999K

-

4

-

$1M - $1.99M

-

-

-

$2M - $2.99M

-

-

-

$3M - $4.99M

-

-

-

$5M - $9.99M

-

-

-

OVER $10M

-

-

-

14

22

57%

$255,000

$355,000

39%

$3,717,000

$8,261,000

122%

PROPERTY ADDRESS

SOLD PRICE

142 LENNY PRESTON RD

$970,000

MEDIAN PRICE

33 PINE RIDGE LANE

$585,000

DOLLAR VOLUME

104 INDIAN ROCK

$535,000

LAND SALES

41 JOHN BLISS ROAD

$530,000

66 FOX FARM ROAD

$460,000

2019 SALES 2020 SALES % CHANGE

SALES TRANSACTIONS

SALES TRANSACTIONS MEDIAN PRICE DOLLAR VOLUME

2019 SALES 2020 SALES % CHANGE 16

23

43%

$61,000

$53,500

-14%

$1,060,000

$1,715,000

61%

Source of all data contained in this report is the Adirondack Champlain Valley, Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Merrill L. Thomas, Inc. Broker for more information.


JAY / UPPER JAY

HOME SALES YEAR OVER YEAR HOME SALES YEAR OVER YEAR

66% TOP 5 HOMES SALES IN 2020 PROPERTY ADDRESS

SOLD PRICE

724 JAY MTN ROAD

$1,400,000

26 TOROK TRAIL

$865,000

21 VALLEY ROAD

$565,000

498 STICKNEY BRIDGE ROAD

$537,500

47 DANIELLE ROAD

$525,000

PRICE CATEGORY

2019 SALES 2020 SALES % CHANGE

UNDER $500K

41

66

60%

$500k - $999K

1

4

300%

$1M - $1.99M

-

1

---

$2M - $2.99M

-

-

-

$3M - $4.99M

-

-

-

$5M - $9.99M

-

-

-

OVER $10M

-

-

-

42

70

66%

$137,000

$193,700

41%

$6,752,000

$16,845,000

150%

SALES TRANSACTIONS MEDIAN PRICE DOLLAR VOLUME

LAND SALES SALES TRANSACTIONS MEDIAN PRICE DOLLAR VOLUME

2019 SALES 2020 SALES % CHANGE 27

44

62%

$6,000

$7,900

31%

$771,500

$1,169,000

51%

Source of all data contained in this report is the Adirondack Champlain Valley, Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Merrill L. Thomas, Inc. Broker for more information.


TUPPER LAKE

HOME SALES YEAR OVER YEAR HOME SALES YEAR OVER YEAR

18% TOP 5 HOMES SALES IN 2020 PROPERTY ADDRESS

SOLD PRICE

12 BLUFF ISLAND

$850,000

33 GAZE ROAD

$799,000

7 COUNTY LINE ISLAND

$765,000

184 RAQUETTE FLOW ROAD

$610,000

226 RAQUETTE FLOW ROAD

$585,000

PRICE CATEGORY

2019 SALES 2020 SALES % CHANGE

UNDER $500K

51

58

13%

$500k - $999K

2

8

300%

$1M - $1.99M

2

-

-100%

$2M - $2.99M

-

-

-

$3M - $4.99M

-

-

-

$5M - $9.99M

-

-

-

OVER $10M

-

-

-

55

65

18%

$127,000

$153,000

20%

SALES TRANSACTIONS MEDIAN PRICE DOLLAR VOLUME

$12,454,000 $14,498,000

LAND SALES

2019 SALES 2020 SALES % CHANGE

SALES TRANSACTIONS MEDIAN PRICE DOLLAR VOLUME

16%

9

18

100%

$45,000

$32,000

-28%

$710,500

$1,274,000

79%

Source of all data contained in this report is the Adirondack Champlain Valley, Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Merrill L. Thomas, Inc. Broker for more information.


KEENE VALLEY

HOME SALES YEAR OVER YEAR HOME SALES YEAR OVER YEAR

5% TOP 5 HOMES SALES IN 2020 PROPERTY ADDRESS

SOLD PRICE

2 MOOSE HILL WAY

$690,000

2975 ROUTE 73

$555,000

1011 HURRICANE ROAD

$544,000

76 JOHNS BROOK LANE

$506,000

144 LACY ROAD

$499,000

PRICE CATEGORY

2019 SALES 2020 SALES % CHANGE

UNDER $500K

16

13

-18%

$500k - $999K

2

4

100%

$1M - $1.99M

-

-

-

$2M - $2.99M

-

-

-

$3M - $4.99M

-

-

-

$5M - $9.99M

-

-

-

OVER $10M

-

-

-

18

17

-5%

$220,000

$312,000

41%

$4,340,000

$6,025,000

38%

SALES TRANSACTIONS MEDIAN PRICE DOLLAR VOLUME

LAND SALES SALES TRANSACTIONS MEDIAN PRICE DOLLAR VOLUME

2019 SALES 2020 SALES % CHANGE 10

18

80%

$94,000

$100,000

6%

$1,059,000

$2,070,000

95%

Source of all data contained in this report is the Adirondack Champlain Valley, Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Merrill L. Thomas, Inc. Broker for more information.


BOQUET VALLEY

HOMES SALE YEAR OVER YEAR HOME SALES YEAR OVER YEAR

17% TOP 5 HOMES SALES IN 2020 PROPERTY ADDRESS

SOLD PRICE

34 LOCH HAME WAY

$1,400,000

59 FOX RUN WAY

$940,000

WORMAN WAY

$937,000

HARBOR VIEW WAY

$675,000

FIRE FLY LANE

$650,000

PRICE CATEGORY

2019 SALES 2020 SALES % CHANGE

UNDER $500K

50

36

-28%

$500k - $999K

2

6

200%

$1M - $1.99M

-

1

100%

$2M - $2.99M

-

-

-

$3M - $4.99M

-

-

-

$5M - $9.99M

-

-

-

OVER $10M

-

-

-

52

43

-17%

$130,000

$200,000

53%

$8,948,000

$5,557,000

-37%

SALES TRANSACTIONS MEDIAN PRICE DOLLAR VOLUME

LAND SALES SALES TRANSACTIONS MEDIAN PRICE DOLLAR VOLUME

2019 SALES 2020 SALES % CHANGE 11

4

-63%

$52,000

$64,500

24%

$744,000

$994,000

33%

Source of all data contained in this report is the Adirondack Champlain Valley, Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Merrill L. Thomas, Inc. Broker for more information.


LONG LAKE

HOME SALES YEAR OVER YEAR HOME SALES YEAR OVER YEAR

26% TOP 5 HOMES SALES IN 2020 PROPERTY ADDRESS

SOLD PRICE

106 MIX LANE

$1,575,000

64 MATTSON WAY

$895,000

66 OLD STEAMBOAT LN

$685,000

58 OLD STEAMBOAT WAY

$481,000

124 JIM BIRD LANE

$400,000

PRICE CATEGORY

2019 SALES 2020 SALES % CHANGE

UNDER $500K

18

21

16%

$500k - $999K

-

2

-24

$1M - $1.99M

1

1

-

$2M - $2.99M

-

-

-

$3M - $4.99M

-

-

-

$5M - $9.99M

-

-

-

OVER $10M

-

-

-

19

24

26%

$176,000

$270,000

53%

$5,811,000

$8,093,000

39%

SALES TRANSACTIONS MEDIAN PRICE DOLLAR VOLUME

LAND SALES

2019 SALES 2020 SALES % CHANGE 4

11

175%

MEDIAN PRICE

$60,000

$38,500

-35%

DOLLAR VOLUME

$374,000

$744,000

80%

SALES TRANSACTIONS

Source of all data contained in this report is the Adirondack Champlain Valley, Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Merrill L. Thomas, Inc. Broker for more information.


WATER FR ONT SHOR ELINE STATS - OV ER $ 1M IN 2020 PROPERTY TYPES

RESIDENTIAL

Transactions Avg. Sold Price

RESIDENTIAL

VACANT L AND

VACANT L AND

ROAD ACCESS

BOAT ACCESS

ROAD ACCESS

BOAT ACCESS

33

3

3

----

$1,483,000

$2,173,000

----

$2,110,000

% List vs Sold

94%

97%

98%

----

Days on Market

270

93

63

----

NOTABLE MLT WATERFRONT SALES IN 2020

$5,210,000

$1,700,000

$3,000,100

CAMP WOODMERE

TROUT POINT

CAMP RED TOP

$2,450,000

$2,419,560

$3,750,000

CAMP DANCING WATERS

CAMP IROQUOIS

UPPER VILLAGE AT EAGLE NEST PRESERVE

Source of all data contained in this report is the Adirondack Champlain Valley, Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Merrill L. Thomas, Inc. Broker for more information.


The team of agents at Merrill L. Thomas, Inc. has represented thousands of sellers of Adirondack real estate over the past 30 years. Whether you are looking to sell your condo, residential home, great camp, vacant property, or commercial business our seasoned professionals can confidently guide you through a successful transaction from start to finish. Our agents work day in and day out to exceed the expectations of their clients. Their local knowledge, exclusive insight into the market and superior integrity have made Merrill Thomas the leader in Adirondack Real Estate. Thinking of Selling? Our selling process typically begins with a determination of a reasonable asking price. Your agent can provide local knowledge on what is happening in the current market, and provide a sample of comparable listings. These are key factors in getting your property sold in a timely manner and with minimum hassle. We’ll prepare a Comparative Market Analysis along with a report full of valuable information, insider tips, and a list of our recommended industry associates that you can’t find online. How About Purchasing? Today, our agents provide a wealth of relevant facts, tips, knowledge and experience that you can rely on in the home buying process. Buying a property requires keen local knowledge of market trends, neighborhoods, zoning and current events. Merrill L. Thomas, Inc. has provided buyers with the right market details for over 75 years.

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Merrill L. Thomas, Inc 2020 Market Report  

2020 was a year like no other! For the 1st quarter we had no business at all. By May 1st the COVID pandemic had fueled a panic escape from t...

Merrill L. Thomas, Inc 2020 Market Report  

2020 was a year like no other! For the 1st quarter we had no business at all. By May 1st the COVID pandemic had fueled a panic escape from t...

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