October AirDna Update

Average revenue up, 6+ Bedrooms down slightly, 5 Bedrooms up big.

Average revenue across all accomodation types (studios through 6+ bedrooms) was up 9%.

Revenue for 6+ bedrooms was down slightly - 3.75% for October 2024 vs October 2023.

For 5 bedrooms, the numbers were up - over 23% from October 2023 to October 2024.

October 2023 AirDna For Ellicottville By Bedroom Type

October 2024 AirDna For Ellicottville By Bedroom Type

Should You Buy a 5, 6 or 6+ Bedroom Home?

Revenue was up in October for 5 bedroom homes and down slightly for 6 bedroom homes in Ellicottville, but does this mean 5 bedroom homes are a better deal? Not necessarily.

Revenue for 6 or more bedrooms was still 22% higher than 5 bedroom homes in Ellicottville while our average purchase price is around 5-10% more depending on the model you choose.

Ultimately, the choice has to be right for you and fit your preferences.

For reference, here are the overall monthly revenue numbers for October 2024 vs October 2024 for all accommodation types. This takes in to account all types of lodging from a studio apartment up to the biggest home in Ellicottville.

AirDna numbers for October 2024 vs October 2023 across all short term rentals in Ellicottville.

Why Build Modular?

At 42 Degrees North, Ellicottville, we have decided to build our homes using modular technology.

With over 20 years experience building homes, we have often been frustrated by the unpredictibility of conventional construction. Building modular in Ellicottville offers a controlled environment giving more predictable build schedules and costs. This helps us from a business perspective and also allows us to pass on the benefits to our clients.

For us, the turning point came when we watched one of our workers actually trying to save us money. He was cutting the trim for a window and decided that, rather than use new wood, he would try to reuse some of the scrap wood. He spent about half an hour looking for a piece of wood that would work. His heart was in the right place, but the amount of time he spent dwarfed any cost savings he might have made on the wood. From then on, all window trims were prepared by a single person and left in the house, next to the windows ready to be put up. One small step….

These days, every time I go to Home Depot and see a plumber with two guys buying a piece of pipe, I can’t help but think how much that piece of pipe is costing the homeowner!

“While nearly every other industry has become more productive since 1968, productivity in home-building — the amount of work done by one worker in one hour, essentially — has declined by half.”

— NY Times

To us, building modular just makes sense - better quality, lower cost, predictable timeframes.

We asked Chat GPT what they thought.

Building a modular house offers several advantages that appeal to a wide range of homeowners. Here are some key reasons:

1. Faster Construction

• Efficiency: Modular homes are built in sections (modules) in a factory setting, where construction processes are streamlined and weather delays are minimized. This allows for faster overall construction time compared to traditional site-built homes.

• Concurrent Construction: While the modules are being built in the factory, the foundation can be prepared on-site, leading to quicker overall project completion.

2. Cost-Effective

• Economies of Scale: Building in a factory allows manufacturers to buy materials in bulk, reducing costs. The controlled environment also minimizes waste and the risk of theft or damage to materials.

• Predictable Budget: Since much of the construction happens in a factory, costs are more predictable, with fewer chances of unexpected expenses due to delays or issues on-site.

3. High Quality and Durability

• Controlled Environment: Factory construction ensures consistent quality, as the modules are built under strict supervision and using precise machinery. This can result in a higher quality product.

• Strong Construction: Modular homes are designed to withstand transportation from the factory to the building site, which often means they are built stronger than traditional homes.

4. Sustainability and Energy Efficiency

• Reduced Waste: The controlled construction process reduces material waste, making modular homes a more sustainable option.

• Energy Efficiency: Many modular homes are designed with energy efficiency in mind, incorporating high-quality insulation, windows, and energy-efficient systems, which can lead to lower utility bills.

5. Design Flexibility

• Customization: Modern modular homes offer a wide range of design options and can be customized to meet specific needs and preferences. Homeowners can choose from various floor plans, finishes, and features.

• Scalability: Modular homes can be easily expanded or modified by adding more modules, making them adaptable to changing needs.

6. Reduced Environmental Impact

• Minimal Site Disturbance: Since much of the construction happens off-site, there is less disruption to the building site and surrounding environment. This results in reduced noise, dust, and overall environmental impact.

• Recyclable Materials: Many modular homes are constructed with recyclable materials, further reducing their environmental footprint.

7. Resilience

• Weather Resistance: Modular homes are often built to withstand extreme weather conditions, making them suitable for areas prone to harsh climates.

• Reduced Maintenance: The high-quality construction and materials used in modular homes can lead to lower maintenance costs over time.

Overall, modular homes offer a combination of speed, cost-effectiveness, quality, and sustainability, making them an attractive option for many homeowners.

A Snow Storm For The Ages?

Not everyone loves snow. If you own a ski chalet in Ellicottville, you definitely love snow! And there is an epic storm on the way. Parts of Buffalo could see up to 5 feet of snow.

Ellicottville is looking at more like 12 inches. Still not bad and it increases the chance that the ski hills will be open early this year. Holiday Valley is targeting November 25th for Opening Day. Both Holiday Valley and Holimont already have lots of snow. Additionally, both resorts boast state of the art snowmaking facilities!

It’s shaping up to be a great winter in Ellicottville. We hope to see you on the slopes or in the bar!

Snowy Up Top!

Fall met winter at 42 Degrees North last week! While the entrance mostly avoided the snow, up at the top, we got an early taste of winter wonderland!

An early taste of winter up at the top of 42 Degrees North!

The temperature soon returned to the 70s, but it was a little taste of what’s to come. We can’t wait! Also a reminder that 42 Degrees North has the highest elevation in Ellicottville!

Websites for Evaluating Vacation Rentals

The arrival and subsequent growth of Airbnb has made people look at vacation property in Ellicottville and elsewhere a little differently. Whereas, historically an Ellicottville ski chalet was primarily for personal use, owners are increasingly using vacation rentals to offset costs and supplement income. Some are even looking to vacation rental properties as an addition to their investment property portfolio.

If you are looking at the possibility of an Ellicottville vacation rental, here are some sites that might be useful for you.

Airbnb.com

This is a great place to start to see what other properties are available and what rates they are charging. By looking at the availability calendar, you can also get some idea of how succesful they are in renting their chalet. Just a word of caution here. A property owner can block off as many nights as they want for personal use so, just because the nights are unavailable, it doesn’t necessarily mean they were all rented.

You can also check the reviews. They will give you an idea of whether people who stayed at the property were happy with their stay. In particular, it’s interesting to see if they thought the property was good value.

AirDNA.co

Airdna is a site that pulls data from Airbnb and VRBO in order to predict various vacation rental indictors such as occupancy rate, average nightly rate and revenue.

“In reporting the active supply of vacation rentals, CBRE found AirDNA data to be 97.5% accurate. For the revenue earned by short-term rental hosts, 96.2% accurate”

Airdna.co provides a free service that allows you to estimate the revenue from an Airbnb almost anywhere in the world. The site asks you to provide an address, the number of bedrooms, the number of bathrooms and the maximum number of guests. It will then give you its best estimate of the rental potential of that property. We should stress that we are in no way affiliated with AirDNA nor do we officially endorse them, but we are a user of their product.

When Airbnb announced their IPO, they were obliged to disclose much of their propreitary data which allowed AirDNA to benchmark their predictions against actual Airbnb data. The results were impressive:

As mentioned previously, we are a user of AirDNA. We subscribe to its full service which provides even more information. It grades Ellicottville against other vacation rental markets. It gives us the top performers in the Ellicottville market. AirDNA also gives us more detailed information on occupancy rates, average nightly rates and how that changes over the course of the year. We can also use it to help with our pricing strategy, when to offer discounts and when to promote our best offers.

Zillow.com

There are many sites where you can find real estate listings and you probably have your favorite already.

We like Zillow because it’s easy to see what’s for sale and also what has already sold. This is important because ultimately what a property actually sells for is more important than what a seller (or their agent) would like it to sell for!

These are a selection of sites that we like. If there are any that you have found useful, please let us know!

Most importantly, while these sites can be useful in doing your own research, they are not a substitute for proper professional advice. You should always consult with the relevant professionals before making any important decision.

Golfing at Holiday Valley

Ellicottville is famous for its skiing, but summer is full of activities as well.

Holiday Valley Double Black Diamond Course

The Double Black Diamond course at Holiday Valley appears as the snow starts to melt. If you’re lucky, and you time it right, you can ski in the morning and play nine holes in the afternoon.

The course itself is a challenging par 70 which measures 6500 yards from the back tees. It combines mountainous holes with some flatter terrain and every hole offers amazing scenery.

The course is always in tremendous shape, but especially so right now.

For more information, visit the Holiday Valley website.

Holiday Valley Opening Day

Holiday Valley opening day is nearly here. Holiday Valley Opening day will be December 3rd. Of course, this is weather permitting and we will be hoping for some classic lake effect Ellicottville snow.

Even without that, however, Holiday Valley has some of the most advanced and most extensive snow making in the east. As long as the temperatures get far below freezing, they will be making snow.

You can find old posts on opening day at Holiday Valley on our sister website where you can also find more stories on Ellicottville Real Estate. And, of course, check back in here for all things Ellicottville and Ellicottville Real Estate.

Holiday Valley wins #2 Ski Resort in the East

Ellicottville’s own Holiday Valley makes the big time! Voted #2 in the East in Ski Magazine’s annual survey for 2021. In the process, Holiday Valley finished higher than famous ski resorts such as Mont Tremblant in Quebec as well as Stowe and Killington in Vermont.

Ellicottville has long been dubbed the “Aspen of the East”. Maybe it’s time for Aspen to be called the Ellicottville of the West. Aspen finished a creditable 3rd in the Best of the West rankings!

What Ski Magazine Said

“This western N.Y. mountain is a small hill that punches above its weight. The skiing is pure fun and the friendly atmosphere makes all comers feel welcome.”

Hard to to argue with this. Holiday Valley manages to pack over 60 runs in to its 290 acres. Each run is meticulously groomed and benefits from the most extensive automated HKD snowmaking in the East. And some crazy lake effect snow doesn’t hurt either.

Holiday Valley is also well blessed with some amazing après-ski. Ellicottville is an authentic ski-town. On the same night you can find people enjoying fine dining at Dina’s or dancing on tables at one of the many bars.

There is a good variety of lodging and that will obviously be improved even further when 42 Degrees North’s ski chalets hit the market. You can see more on our Ellicottville ski chalets here.

What Holiday Valley Had to Say

Holiday Valley was justifiably proud of their achievement. This was the highest that Holiday Valley had ever finished and they beat out some top names to do it. Here’s what resort president Dennis Eshbaugh had to say:

“…is quite an accomplishment. Our founders would be very proud of what they started 64 years ago. We have worked hard over the years to continually reinvest in the resort and provide a good work environment for our employees. And then there’s Ellicottville which provides the après experience with great dining, shopping and nightlife. But there’s one thing that can’t be purchased and that’s the friendly attitude of our staff and all the locals that puts the visitor’s experience over the top. We are humbled and honored by our customers’ loyalty.”

Well said! At 42 Degrees North, we’re proud to be part of the Ellicottville experience and the Ellicottville Real Estate scene. And we’re looking forward to Holiday Valley taking that number 1 spot!

The Rankings in Full

1. Smuggler’s Notch, Vermont

2. Holiday Valley, NY

3. Killington, Vermont

4. Mont Tremblant, Quebec

5. Mad River Glen, Vermont

6. Jay Peak, Vermont

7. Whiteface Mountain, New York

8. Cannon Mountain, New Hampshire

9. Sugarloaf, Vermount

10. Sugarbush, Vermont

Snowmaking at sunset at Holiday Valley in Ellicottville (photo courtesy of Holiday Valley)

Remember to check in regularly for all that’s new in the Ellicottville real estate market. And you can catch up on older Ellicottville real estate stories at our previous site.

Ellicottville in the Fall

Skiing is what put Ellicottville on the map, but it is beautiful in all seasons. Fall in Ellicottville is spectacular! Our partners as Eagle 1 photography recently took the drone up on a flight and captured some great shots for us. Unfortunately, the colors haven’t been quite as spectacular this year. This is as a result of the milder nights we had in October. The best color years are usually when there is a big temperature contract between night and day. However, even a less spectacular year is still pretty great so please enjoy!

Flying Over Lot 7

Vibrant Fall Colours Over Lot 7 at 42 Degrees North. Lot 7 dominates the bottom left hand side of this photo. Lot 1 in Phase 2 is in the top left hand corner. Lots 12 and 13 from Phase 2 are to the right.

Flying Over the Communal Area

This photo shows the communal area dominated by the patch of spruce trees in the middle. In the distance in the top right, you can see another line of spruce trees. This marks the end of the road in Phase 2. It also the highest point in Ellicottville - a few feet higher than Holimont and Holiday Valley.

The View Towards Ellicottville, Holiday Valley and Holimont

This great picture shows just how close 42 Degrees North is to Ellicottville. You can see Holiday Valley and Holimont. If you look really closely, you can even see one of the fairways at the Double Black Diamond at Holiday Valley. Where else on the Ellicottville real estate scene can you get this amount of privacy and seclusion so close to Ellicottville?

Flying Over Lots 5, 6 and 7

Another great shot. The drone is probably over lot 5 in this shot. It then looks over lots 6 and 7 in Phase 1 and over the whole of Phase 2. Once again, you can see the patch of spruce trees in the distance that marks the end of the road. From there, you really are on top of the world.

Winter is Coming

It’s fall now, but winter is coming and we’re one day closer to ski season. As soon as the snow comes, we’ll send the drone up again and get some great winter shots.

In the meantime, if you are looking for a ski chalet in Ellicottville, please don’t hesitate to get in touch with us. 42 Degrees North is poised to be the most exciting resort development on the Ellicottville Real Estate scene.

US-Canadian Border Update

The US-Canadian Border is Reopening!

Finally some good news on the US-Canadian border! Although, there isn’t a fixed date yet, it has been confirmed that the border will reopen some time in November,

The land border has been closed for 19 months now. As we noted in our previous blog, it has been possible for Canadians to travel to the US by air, but this isn’t really practical for Canadians travelling to Ellicottville.

Rules are still being thrashed out. One big question is whether or not the US will allow vaccine mixing. In Canada, many people had a first dose of Astra Zeneca and then an MrNa vaccine for their second dose - Moderna or Pfizer. The FDA doesn’t currently recognise Astra Zeneca in the US. However, indications are that any vaccine approved by the WHO will be accepted.

We’ll wait and see what happens! For now, though, we’ll take the good news. Canadians traditionally make up a big part of the Ellicottville real estate market as well as a sizeable portion of its visitors. Both Canadians and Ellicottville locals can cheer this news! 42 Degrees North definitely cheers this news!

Ellicottville Social Media Round Up

This is our (mostly) weekly round up of social media from some of our favorite Ellicottville accounts.

Ellicottville Fall Festival

The colors (or colours) are just starting to pop in Ellicottville. With things getting back to normal a little bit, it’s time for the Ellicottville Fall Festival and there’s a lot going on! Ellicottville Fall Festival coincides with Canadian Thanksgiving. With the border still closed, there won’t be as many Canadians flocking to Ellicottville as usual, but other than that, it is business (and fun) as usual.

Ellicottville Brewing Company

As always, the Ellicottville Brewing Company is rolling out a packed line up for Ellicottville Fall Festival. It starts on Friday October 8th and runs through the weekend to Sunday night. There is a wide variety of musical acts, great food and, of course, an amazing selection of craft beers brewed right on site in Ellicottville.

Ellicottville Tap and Bottle and Taqueria

To celebrate Ellicottville Fall Festival, Ellicottville Tap and Bottle and Taqueria is offering specially created Tacos until 8pm. From 8pm, it’s all about the party! Full bar service, craft cocktails and over 30 new beers from across New York State.

Ellicottville Nominated for Best Small Town for Adventure

Ellicottville has been nominated as one of the top small towns in America for adventure. Ellicottville Outbound is reminding you to vote. When we voted, Ellicottville was in eighth place so get voting! Click here to vote!

Holiday Valley Yodeler Update

Holiday Valley has been getting us excited for skiing all year with it’s updates on the progress of the new High Speed Yodeler Quad coming to Holiday Valley this winter. The Holiday Valley lift system is already amazing and this will just add to it. Check out Holiday Valley’s Facebook page for more updates!

Meet The Neighbours

42 Degrees North brings space and seclusion to the Ellicottville real estate scene. With over 140 acres in total and average lot sizes over 5 acres, there’s plenty of room to spread out and relax. Every lot has been protected by a 25 foot buffer in which no tree clearing is allowed. This means that there will never be less than 50 feet of trees between you and your immediate neighbour and, in most cases, much more than that.

So, unless you want to, it’s unlikely that you will bump in to you neighbours. But what about 42 Degrees North’s neighbours?

Well, good news! The eastern boundary of the project is Poverty Hill Road. To the south, is a very exclusive estate on over 100 acres and to the west and the north is the Poverty Hill Wildlife Management Area.

The Poverty Hill Wildlife Management Area is over 950 areas of land that is fully protected. You can read about it here, but essentially it is as the name implies. It’s an area protected for wildlife and wildlife related recreation. Snowmobiling, ATVs and, most importantly development, are prohibited. So when you buy in to the 140 acres at 42 Degrees North, you are effectively buying in to over 1000 acres of wilderness. All of this just 5 minutes from the skiing, bars and restaurants of Ellicottville.

US-Canadian Border Reopening

Canadians are a crucial part of the Ellicottville Real Estate market. Anecdotally, Canadians make up around half of all Ellicottville sales in a normal year and a high percentage of skiers, chalet guests and partiers! Of course, normal years have been in short supply recently. The land border has been closed since shortly after Covid hit in March 2020.

Currently, the border status is being reviewed on the 21st of every month and the closure extended for 30 days. The current closure runs until October 21st. Meanwhile, in the other direction, fully vaccinated Americans have been allowed to enter Canada since August of this year. Additionally, Canadians have been allowed to enter the US by air for most of the pandemic.

This has led to understandable confusion and annoyance on both sides of the border and especially amongst border communities. To get from Toronto to Buffalo for example is just over an hour and a half drive. To fly to Buffalo takes around 5 hours plus all the extra time getting to the airport, waiting to board and then getting to wherever you want to go from Buffalo airport. Door to door, it’s probably 8 hours. So to take that route to Ellicottville, it’s a 9 hour trip compared to around two and a half hours by car.

The US government is now coming under pressure from its own politicians from both sides of the political divide. The Democratic Senators Jeanne Shaheen and Maggie Hassan from New Hampshire, Jon Tester from Montana have voiced their opposition to the continued closure. So too has Angus King, the Independent Senator from Maine and Greg Gianforte, the Republican Governor of Montana.

Good News on the Horizon?

There’s nothing concrete, but maybe a few encouraging signs. While previous extensions of the border closure were for 30 days at a time, there has been some suggestion this time around that changes could be made before the next scheduled review date of October 21st. Additionally, fully vaccinated travellers from a host of other countries will be allowed in to the US starting in November. This may mark a general shift towards relaxing border regulations.

Another positive sign is that despite the 4th wave, the numbers of new Covid cases seems to be stabilising or even declining. Certainly, the decision to open the Canadian border to vaccinated Americans does not seem to have led to a surge in new Covid cases.

We will keep an eye on all the announcements and update you here in Blog 42. We hope to see you in Ellicottville soon!

Ellicottville Real Estate Review

When you decide whether to buy at 42 Degrees North, we understand that you will want to see how it compares to other chalets in Ellicottville. While you will obviously want to do your own due diligence, in the coming posts, we will look at properties that have sold in Ellicottville and compare them to the chalets for sale at 42 Degrees North.

6709 Upper Rd, Ellicottville

Ski Chalet at 6709 Upper Road, Ellicottville.

This 6 bedroom 3512 sq ft home overlooks the slopes of Holiday Valley. It sold for $705,000 on August 12th 2021. It is obviously a great chalet close to Ellicottville, but let’s see how it compares to a similar chalet at 42 Degrees North. The comparison we will use is the Elk Creek Model on Lot 2 which is currently for sale at $620,000.

Location

6709 Upper Road has a fabulous location. It isn’t ski in - ski out, but it is across the street from the slopes at Holiday Valley and it has views of the slopes. It’s a short drive down to Holiday Valley resort. According to Google Maps, it is 1.3 miles from Holiday Valley or a 3 minute drive. It is 3.9 miles from Holimont or an 8 minute drive. The Ellicottville Brewing Company is 2.5 miles or an 8 minute drive.

Lot 2 at 42 Degrees North also features views of the slopes albeit from a little further away. Holiday Valley is 3.8 miles away or a 7 minute drive. Holimont is 3.9 miles away or an 8 minute drive. The Ellicottville Brewing Company is 2.8 miles or a 6 minute drive. Again, this is all according to Google Maps.

So, 6709 Upper Road is definitely closer to Holiday Valley. The two chalets are exactly the same distance and driving time from Holimont. 42 Degrees North is slightly further from Ellicottville Brewing Company, but actually a shorter drive. It’s pretty close and some will certainly prefer the seclusion that 42 Degrees North offers, but for proximity to Holiday Valley, we’ll give 6709 Upper Road a slight edge.

The Chalets

These two Ellicottville ski chalets are quite similar in size. 6709 Upper Road is slightly bigger at approximately 3500 sq ft vs the Elk Creek which comes in at 3380 sq ft. 6709 Upper Road has 6 bedrooms and 5 bathrooms while the Elk Creek can be configured as either a 6 or 7 bedroom home and with 3 to 5 bathrooms.

Both chalets are well built and functional, but different in age. The Elk Creek is obviously a new build so you have a brand new home and one that can be somewhat customised to your needs and wants. The chalet at 6709 Upper Road is a little older so naturally it will show some wear and tear. The Elk Creek’s design style is a little more contemporary as you would expect from a newer home.

On balance, while both are lovely homes, we give the edge to the Elk Creek at 42 Degrees North

Lot Size

An easy comparison here with 6709 Upper Road having a decent 0.49 acre lot size, but lot 2 at 42 Degrees North prevailing with an extremely generous 5 acres. Advantage 42 Degrees North

Price

Always kind of important! With a list price of $620,000 vs 6709 Upper Road’s selling price of $705,000, the Elk Creek is the winner here.

The Verdict

Two amazing Ellicottville ski chalets. We gave the edge to the Elk Creek in three of the four categories, but everyone’s view is going to be different. You are welcome to add your thoughts in the comments below. We do moderate them, but all reasonable opinions welcomed (even if you don’t agree with us!)

Welcome!

Welcome to Blog42 - our new blog on everything Ellicottville. Ellicottville Real Estate, Ellicottville Skiing, Ellicottville Activities and, of course, Ellicottville’s best chalet resort, 42 Degrees North.

Over the years to come, we will obviously be focused on telling you all about 42 Degrees North as we sell the homes, build them out and then work on making 42 Degrees North the best resort experience in the East. Some may say that’s ambitious, others may say, “why not the world?” At the same time, we are in Ellicottville for a reason (we think it’s the best) and we’re part of the community here so expect to see some local interest stories as well - local sports teams, stuff like that.

We will also be taking a wider look at real estate and especially vacation real estate. With the rise of Airbnb and with Covid forcing more people to vacation close to home, vacation homes have become very interesting from an investment perspective. Look out for posts on that angle. If you can’t wait, we have covered this previously on our sister blog. There is also a lot more on Ellicottville real estate there as well.