The Leader of Adirondack Real Estate & Lake Placid Vacation Rentals

A Snap Shot of 2020

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 a bustle with folks seeking refuge in a safer and quieter environment. As a result, sales transactions took off, people started buying properties sight unseen, relying solely on our virtual tours and quality videos. Our sales volume for the year ended up 59% totaling $175,000,000+ 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 into 2023 as infastructure investments take shape around Lake Placid and the surrounding region specifically in the 1980 Olympic venues. Based on current projections locally and nationally, we expect values to rise between 7-10% in the following year. The lack of supply and consistent demand from metropolitan areas will be a key factor going forward for future values, and optimism is in the air for the 2023 World University Games in Lake Placid and the draw it will bring to our area.