Tompkins County home listings asked for less money in May - see the current median price here
The median home in Tompkins County listed for $475,000 in May, down 2.5% from the previous month's $487,000, an analysis of data from Realtor.com shows.
Compared to May 2024, the median home list price increased 2% from $468,500.
The statistics in this article only pertain to houses listed for sale in Tompkins County, not houses that were sold. Information on your local housing market, along with other useful community data, is available at data.ithacajournal.com.
Tompkins County's median home was 2,240 square feet, listed at $216 per square foot. The price per square foot of homes for sale is up 6.8% from May 2024.
Listings in Tompkins County moved briskly, at a median 39 days listed compared to the May national median of 51 days on the market. In the previous month, homes had a median of 34 days on the market. Around 92 homes were newly listed on the market in May, a 24.3% increase from 74 new listings in May 2024.
The median home prices issued by Realtor.com may exclude many, or even most, of a market's homes. The price and volume represent only single-family homes, condominiums or townhomes. They include existing homes, but exclude most new construction as well as pending and contingent sales.
Across the Ithaca metro area, median home prices fell to $472,000, slightly lower than a month earlier. The median home had 2,240 square feet, at a list price of $216 per square foot.
In New York, median home prices were $699,000, the same as April. The median New York home listed for sale had 1,578 square feet, with a price of $435 per square foot.
Throughout the United States, the median home price was $440,000, a slight increase from the month prior. The median American home for sale was listed at 1,840 square feet, with a price of $234 per square foot.
The median home list price used in this report represents the midway point of all the houses or units listed over the given period of time. Experts say the median offers a more accurate view of what's happening in a market than the average list price, which would mean taking the sum of all listing prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high price.
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. Our News Automation and AI team would like to hear from you. Take this survey and share your thoughts with us.
This article originally appeared on Ithaca Journal: Tompkins County home listings asked for less money in May - see the current median price here
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