Bytes.co Burlington
As we wrap up the first quarter of 2025, I wanted to share a quick update on what we’ve been seeing across the Adirondack real estate market—and it’s safe to say, the year is off to an exciting start.
In Q1 alone, 206 new listings hit the market across the region. The highest-priced property was Hemlock Ledge in Tupper Lake, offered at $4,400,000.
We also saw 156 price reductions this quarter, with 36 of those properties going pending or closing shortly after—underscoring how price sensitivity continues to drive buyer decisions.
In total, 196 properties closed in Q1, though many were rollover transactions from late 2024. One of the most notable sales was 29 Point of View Way on Lake Placid, closing at $3,800,000—about 20% below its original $4.7M ask. Even at the luxury level, buyers are negotiating value.
Another positive sign: 165 closings occurred in the Adirondack Champlain Valley, highlighting how resilient and active our broader regional market remains.
At Merrill L. Thomas, Inc., we had a strong quarter with 90 transaction sides, totaling $34 million in sales volume—putting us $12 million ahead of our nearest competitor. Our average sale price hovers around $400,000, and we are proud to represent a diverse range of properties, from luxury lakefront estates to cozy cabins, vacant land, and everything in between.
We’re also expanding our footprint into wonderful communities like Elizabethtown, Inlet, Newcomb, Schroon Lake, and beyond—deepening our commitment to the Adirondacks we know and love.
That said, it’s important to remain clear-eyed. Today, CNBC reported that Canadian travel to New York State was down 30% in March, a trend we’ll be watching closely. International demand has long been a key driver in some second-home markets, so a short-term dip could impact momentum heading into summer.
For sellers whose properties have been on the market for six months or more, now may be a smart time to consider a price adjustment or refresh. This not only boosts visibility on search engines and listing platforms but can help reposition your property in the eyes of buyers who may be circling back for a second look.
On a personal note, I’ve been fully immersed in all sides of the business—sales, marketing, and development—and I’m energized by what’s ahead. We have some exceptional new waterfront offerings coming soon on Upper St. Regis Lake, Lake Placid, Inlet, Upper Saranac Lake, and Mirror Lake.
If there’s something specific you’re looking for and not seeing on the market, feel free to reach out. I may already know of something quietly in the works.
Here’s to a strong (and strategic) spring season ahead—thank you, as always, for your continued trust and support!
Warmly,
Nick Politi
