Apr. 5, 2007 - 2006 Ithaca Area Real Estate Statistics

The Ithaca Board of Realtors has just released the Annual Statistics Report for Residential Properties to its members. There were no big surprises. The real estate market in Ithaca has remained fairly steady over the past 12 months as the statistics bear out. Traditionally, the market value of homes in Ithaca continues to increase, albeit only slightly some years. This is possibly because of the transient nature of our residents due to the college population.

Tompkins County saw 1,041 closed sales in 2006 (there were 1,040 closed sales in 2005). The average selling price was $193,506 in 2006 and $184,026 in 2005. The average selling price to list price was 96.8% last year, and 96.6% in 2005, and the average days on the market was 61 in 2006 and 55 in 2005.

The Belle Sherman School District saw the most closed sales, followed by the Dryden Central School District and then Caroline. By dollar volume, Cayuga Heights came in first, followed by Belle Sherman and then Lansing Central.

If you have any questions about sales of properties in areas of interest to you, I'd be happy to talk to you!