How is Tompkins County's real estate market? Home prices rose in July

The median sales price for a single-family home in Tompkins County during July was $379,000. That's an increase of 52.8% compared with July 2020, according to data from Realtor.com.

The number of houses sold rose by 13.8% from a year earlier. A total of 66 houses were sold county-wide during the month of July. During the same period a year earlier, 58 single-family homes were sold.

Condominium and townhomes sold in July had a median sales price of $403,000. That figure represents a 16.5% increase year-over-year. In Tompkins County, 10 were sold, up 400% from a year earlier.

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The top 10% of the properties sold had prices of at least $650,000, up 39.8% from a year before.

In July, one property sold for $1 million or more: one other property.

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. The story was written by Sean Lahman.

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