How is Tompkins County’s actual property market? House costs rose in July

The median gross sales worth for a single-family dwelling in Tompkins County throughout July was $379,000. That is a rise of 52.8% in contrast with July 2020, in line with information from Realtor.com.

The variety of homes offered rose by 13.8% from a 12 months earlier. A complete of 66 homes had been offered county-wide in the course of the month of July. Throughout the identical interval a 12 months earlier, 58 single-family houses had been offered.

Condominium and townhomes offered in July had a median gross sales worth of $403,000. That determine represents a 16.5% improve year-over-year. In Tompkins County, 10 had been offered, up 400% from a 12 months earlier.

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The highest 10% of the properties offered had costs of at the very least $650,000, up 39.8% from a 12 months earlier than.

In July, one property offered for $1 million or extra: one different property.

The median dwelling sale worth — the halfway level of all the homes or items offered over a time frame — is used on this report as an alternative of the typical dwelling sale worth as a result of consultants say the median provides a extra correct view of what is occurring in a market. Find the typical worth, all costs of houses offered are added after which divided by the variety of houses offered. This measure may be skewed by one low or excessive worth.

The USA TODAY Community is publishing localized variations of this story on its information websites throughout the nation, generated with information from Realtor.com. The story was written by Sean Lahman.

This text initially appeared on Ithaca Journal: Tompkins County’s common dwelling offered for a better worth than final 12 months

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