Most recent median home sales in Tompkins County down at $299,500
Newly released data for September shows that potential buyers and sellers in Tompkins County saw houses sell for lower than the previous month's median sale price of $350,000.
The median home sold for $299,500, an analysis of data from Realtor.com shows. That means September, the most recent month for which figures are available, was down 14.4% from August.
Compared to September 2022, the median home sale price was down 2.6% at $299,500 compared to $307,500.
Realtor.com sources sales data from real estate deeds, resulting in a few months' delay in up-to-date data. The statistics don't include homes currently listed for sale, and aren't directly comparable to listings data.
Information on your local housing market, along with other useful community data, is available at data.ithacajournal.com.
Looking only at single-family homes, the $305,000 median selling price in Tompkins County was down 10.2% in September from $339,758 the month prior. Since September 2022, the sale price of single-family homes was down 0.8% from a median of $307,500.
One condominium or townhouse sold for $1 million or more during the month, compared to zero recorded transactions of at least $1 million in September 2022.
Condominiums and townhomes decreased by 56.5% in sales price this September to a median of $285,000 from $655,000 in August. Compared to September 2022, the sale price of condominiums and townhomes was down 13% from $327,500. One homes sold for $1 million or more during the month, compared to zero recorded transactions of at least $1 million in September 2022.
In September, the number of recorded sales in Tompkins County dropped by 35% since September 2022 from 80 to 52. All residential home sales totaled to $19 million.
In New York, homes sold at a median of $400,131 this September, down 11.1% from $450,000 in August. There were 9,902 recorded sales across the state this September, down 30.8% from 14,299 recorded sales in September 2022.
The total value of recorded residential home sales in New York decreased by 33.2% from $10.4 billion in August to $6.9 billion this September.
Out of all residential home sales in New York, 14.5% of homes sold for at least $1 million in September, the same as September 2022.
Sale prices of single-family homes across New York decreased by 14.6% from a median of $409,972 in August to $350,040 in September. Since September 2022, the sale price of single-family homes across the state was down 2.8% from $359,976.
Across the state, the sale price of condominiums and townhomes dropped 10.1% from a median of $583,880 in August to $525,000 this September. The median sale price of condominiums and townhomes is down 11% from the median of $589,860 in September 2022.
The median home sale price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what's happening in a market than the average sale price, which would mean taking the sum of all sale prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.
This article originally appeared on Ithaca Journal: Most recent median home sales in Tompkins County down at $299,500
