Team Pritchard Quarterly Real Estate Update

Upswing in Sales, Increased Interest in Ellicottville Village Property Coincides with End of Ski Season. End Quote

Buffalo-Niagara Falls, NY (1888PressRelease) May 10, 2014 - Although the ski season in Ellicottville has wound down for another year, interest in properties in this four-season resort town just an hour south of Buffalo is definitely on the upswing according to Team Pritchard, the mother and daughter team of Cathy and Melanie Pritchard. "We're currently experiencing a significant upswing both in sales and inquiries from people interested in Ellicottville property," notes Cathy Pritchard. "This tends to be the case every spring due to the fact that a lot of people who were renting, are now thinking seriously about buying. In fact, we're surprised by just how strong the demand has been." Cathy and Melanie are both licensed real estate brokers with ERA Team VP Real Estate in the heart of Ellicottville.

The total sales volume for the first quarter of 2014 for the village and town of Ellicottville was $4,262,500 - an increase of more than 22% over the first quarter of 2013, while total sales for the ERA Team VP Real Estate Ellicottville office is up 27% across the board. The average sale price for Ellicottville is holding steady at $231,000 compared to $232,000 a year ago while the highest sale price for the first quarter was $425,000 compared to $775,000 a year ago.

"The sales stats are just confirming what we already know, which is that more and more people want to own a home or chalet in Ellicottville and I think people recognize the area offers excellent value for what you pay for compared to other four-season resort towns," says Cathy. "That isn't to say there still aren't million dollar properties still for sale here… but right now, the strongest demand is for coming from middle-class buyers interested in a weekend property."

And because of Ellicott

Village People

Another distinct trend says Melanie Pritchard is "Interest in village properties is definitely on the rise. In the past, it was all about owning close to the slopes and it's true that a lot of people still want that. But what we're seeing now is more and more people want to own in town and prefer to drive the five or ten minutes it takes to get to the slopes... so that once they're finished skiing, Ellicottville's shops and restaurants are literally at their doorstep."

Melanie says "We think it has a lot to do with the way village life has evolved over the past few years. The addition of such amenities as a new cheese shop (EVL Cheese Company), a specialty butcher (Dom's Butcher Block), the Winery of Ellicottville, a $3 million expansion of Ellicottville Brewing Company and upgrades and renovations to several other businesses have all added to the appeal of living in in the village."

Cross Border Appeal - Both State and International

Due to Ellicottville's location, at the doorstep of the Allegany State Park and just an hour south of Buffalo, Melanie says Ellicottville is continuing to attract buyers from multiple markets ranging from Western New York, to Northern PA and Ohio to Southern Ontario. "We continue to see a lot of interest from Southern Ontario, in part because of the value of what you can buy here and we keep hearing from Canadians that Ellicottville is a much easier drive to destination than Ontario cottage country."

About Team Pritchard
Team Pritchard is one of the top selling real estate teams in Ellicottville with 46 years combined experience and averaging more than $10 million in year over year. To learn more about Ellicottville and area listings, call Cathy at 716-983-4343 or Melanie at 716-480-8409 or go to the Team Pritchard website www.teampritchard.com.

Media Contact: Mark Wessel, Bullpen PR, 705-445-2733, mwessel ( @ ) bullpenpr dot com.

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