SKANEATELES
FEBRUARY 2025 REAL ESTATE MARKET REPORT
Prepared Especially for FUTURE FRIENDS
AND NEIGHBORS
SCAN FOR YOUR ACCURATE EQUITY EVALUATION
Scan to receive the most accurate assessment of your home's value, provided to you as a complimentary service by Michael DeRosa and Kelli Ide , your Skaneateles real estate specialists.
HOMES PENDING
SKANEATELES HOMES RECENTLY SOLD
Licensed Real Estate Broker NY, PA, FL
Michael DeRosa (315) 406-SELL
MICHAEL
Certified Luxury Home Marketing Specialist - Guild
MichaelDeRosa@MichaelDeRosaExchange.com
MichaelDeRosaExchange.com
Licensed Real Estate Associate Broker
Certified Luxury Home Marketing Specialist - Guild
Kelli Ide (315) 706-9692
Kelli.Ide@MichaelDeRosaExchange.com
KelliIde.com
@kelli.ide @michaelderosaexchange
2025 MARKET FORECAST
Wondering what’s in store for the housing market this year, and more specifically, what it all means for you? Here’s what experts are saying regarding mortgage rates and home prices for the year ahead.
WILL MORTGAGE RATES COME DOWN?
The good news is that rates are projected to ease a bit in 2025. But that doesn’t mean you should expect to see a return of 3-4% mortgage rates: it’s more likely that we’ll see rates around 6%. However, this will continue to change. Forecasts are based on current factors, and since everything from inflation to economic drivers have an impact on rates, some ups and downs are still very likely.
Don’t wait to sell your home trying to time the market!
WILL HOME PRICES FALL?
Not likely! While mortgage rates are expected to ease, prices are projected to keep climbing – just at a slower, more normal pace. Experts predict a much more typical rise between 3-4% nationally. We predict that the price paid per square foot in Skaneateles for a residential home will rise 3-4 times what experts have predicted for the national housing market. As inventory still isn’t meeting demand, prices are expected to rise similar to that of the second half of 2024. Keep in mind, though, the market is hyper-local.
As your Skaneateles experts, we know our market better than anyone!
FUTURE FRIENDS AND NEIGHBORS,
The housing market is always shifting, and 2025 will be no different. With rates likely to ease a bit and prices rising at a sustainable pace, it’s all about staying informed and making a plan that works for you. Call us at (315) 406-SELL or (315) 706-9692 and let’s connect so you can get the scoop on what’s happening in our community!