Nicholas Politi
Over the past month, I’ve been trying to put my finger on what feels different about today’s Adirondack real estate market. A few days ago, my son Frank and I were rowing back to shore on Silver Lake after our boat motor quit. It gave me a little time to think, and I kept coming back to the same conclusion. For the first time since the COVID buying frenzy began, the market feels balanced again.
That doesn’t mean we’ve returned to normal.
In fact, I don’t think today’s environment looks much like it did before 2020. The urgency that defined the COVID years has largely faded. Negotiations have returned, pricing matters again, and decisions are being made more thoughtfully. To me, that’s what a healthy market looks like. Balance doesn’t necessarily mean more inventory. It means decisions are once again being driven by information rather than emotion.
Lake Placid Lake provides a good example. There are approximately 94 boat access camps and approximately 220 road access waterfront properties. Today, nine boat access properties are available for sale, representing nearly 10 percent of the boat access market. On the road access side, there are only three properties available, or roughly 1.4 percent of that inventory. By comparison, there were 21 available properties on Lake Placid Lake in 2019. Those numbers tell an interesting story. Inventory has improved significantly from the historic lows we experienced during the pandemic, creating more opportunities and allowing the market to function more naturally. At the same time, inventory remains below 2020 levels in many of the Adirondacks’ most desirable areas. That’s why I believe today’s market feels balanced rather than normal. There are meaningful choices without an overwhelming number of options.
I’ve also noticed another familiar pattern returning over the past three summers. As July turns into August, the market settles into a more deliberate rhythm and pricing becomes increasingly important. That’s not a sign of weakness. It’s simply the Adirondack market behaving much the way it has for years. Unlike many parts of the country, our market isn’t driven solely by interest rates or economic headlines. Vacations, weather, family traditions, and timing all influence real estate decisions. Every summer, families arrive planning to spend a week at the lake and leave imagining what it would be like to own a place of their own. That’s why I’ve always believed this is a marathon and not a sprint.
As we move through the remainder of the season, I believe we’re seeing one of the healthiest real estate markets we’ve experienced in several years. Today’s market rewards preparation, realistic pricing, patience, and thoughtful decision making. Those are qualities that often produce better outcomes than urgency ever could. Yet, one thing has always defined the Adirondacks: truly exceptional properties in exceptional locations are finite. That has always been true, and it’s unlikely to change.
So, has the real estate market returned to normal? I don’t believe it has. But I do believe it’s found a return to balance.
