How hot is the real estate market near Ithaca? Home sale prices rise to $325K

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The median sales price for a single-family home sold in Tompkins County during June was $325,000. That's an increase of 6.2% compared with June 2021, according to a USA TODAY Network localized analysis generated with data from Realtor.com.

June prices are down from $365,000 the previous month.

The number of houses sold rose by 25% from a year earlier. A total of 85 houses were sold countywide during June. During the same period a year earlier, 68 single-family homes were sold.

Cayuga County's median sales price for a single-family home was $275,000, up 111.5% from a year earlier. Some 103 houses were sold in June, up 151.2% from a year earlier.

Home sales:How hot is the real estate market near Ithaca? Home sale prices rise to $365K

Real estate sales can take weeks or months to be recorded and collected. This is the latest data made available through Realtor.com to the USA TODAY Network.

Tompkins County condominiums and townhomes sold in June had a median sales price of $385,000. That figure represents a 55.9% increase year over year. Some 11 were sold, up 175% from a year earlier.

How hot is Tompkins County's real estate market in New York?

Information on your local housing markets is available through the USA TODAY Network, with more data from Realtor.com.

In Tompkins County the top 10% of the properties sold for at least $720,000, up 35.1% from a year before.

In June, three properties sold for at least $1 million, consisting of two single-family homes and one other property.

In Cayuga County the top 10% of the properties sold for at least $603,750, up 194.5% from a year before.

New York's median single-family home sales price was $376,500 in June, up 7.6% from a year earlier. The state reported 10,115 single-family homes sold, down 9% from a year earlier.

The median home sale price — the midway point of all the houses or units sold over a period of time — is used in this report instead of the average home sale price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes sold are added and then divided by the number of homes sold. This measure can be skewed by one 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. Localized versions are generated for communities where the data quality and transaction volume meets Realtor.com and USA TODAY Network standards. The story was written by Sean Lahman.

This article originally appeared on Ithaca Journal: Tompkins County's average home sold for a higher price year over year