It is a nice area but there are few lakes around Ellicottville, unlike most areas of NY. There are a few very small lakes to the east, Lime Lake is the closest, then also Rushford Lake and Cuba Lake. Chautauqua Lake to the west is the only large lake in the region besides Lake Erie and it's very nice but at least a 1 hour drive from Ellicottville. The real estate is funny in this area. There are a few hot spots like Ellicottville and Chautauqua where it is pricey (many of the property owners in these areas are from outside of NY) but outside these areas you can find some real bargains. One area I've seen outside the hotspot area is a lake/wetlands area in Napoli, it's very rural and undeveloped unlike the other lakes. Check
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