I love it when this question is asked! As you may or may not know, I have a penchant for properties in Trumansburg and thus consider it my area of expertise (it helps that I live in Trumansburg too!). So what does the market look like? We are only two months into the new year; there is not much sold data to go on. However, we can look at current listings, my current experience with the market, and 2012 historial sold data and then make some predictions.
As of today (Feb 19, 2013) there are 3 properties listed in the Village of Trumansburg.
|
Statistics Village of Tburg current listings (3 listings) |
|||||
|
Low |
High |
Average |
Median |
Total |
|
|
List Price |
$229,000 |
$298,000 |
$267,300 |
$274,900 |
$801,900 |
|
Price/SqFt ($) |
$94.86 |
$106.22 |
$101.33 |
$102.90 |
— |
|
Price/Acre ($) |
$0.00 |
$709,523.81 |
$236,507.94 |
$0.00 |
— |
|
Days on Market |
34 |
156 |
85 |
64 |
— |
For the entire Trumansburg School district area there are currently 17 properties listed for sale (That includes the 3 in the village).
|
Statistics for currently listed properties in entire T-burg school district |
|||||
|
Low |
High |
Average |
Median |
Total |
|
|
List Price |
$49,000 |
$796,000 |
$294,776 |
$229,000 |
$5,011,200 |
|
Price/SqFt ($) |
$52.80 |
$248.71 |
$121.69 |
$110.21 |
— |
|
Price/Acre ($) |
$0.00 |
$1,097,083.33 |
$187,396.56 |
$82,304.53 |
— |
|
Days on Market |
20 |
510 |
150 |
104 |
— |
You can see that the lake propertys’ listed prices are skewing the average list price.
In conclusion, there is a big of a ‘shortage’ of properties to choose from in Trumansburg. Mostly because of timing – most listings will come on the market in March and April.
Now for the SOLD data from last year to today (Jan 1, 2012 – Feb 19, 2013)
|
Statistics SOLD Tburg VILLAGE properties |
|||||
|
Low |
High |
Average |
Median |
Total |
|
|
List Price |
$59,900 |
$399,000 |
$192,396 |
$198,500 |
$5,002,300 |
|
Selling Price |
$55,000 |
$399,000 |
$180,984 |
$184,500 |
$4,705,590 |
|
Price/SqFt ($) |
$0.00 |
$167.30 |
$106.78 |
$108.50 |
— |
|
Price/Acre ($) |
$0.00 |
$538,461.54 |
$151,145.85 |
$88,286.50 |
— |
|
Days on Market |
35 |
457 |
165 |
141.5 |
— |
Seeing how the inventory is a bit low as of right now, IF YOU ARE PLANNING ON LISTING YOUR PROPERTY THIS YEAR, I would suggest listing sooner rather than later.
I think buyers are looking for new inventory but it’s just not on market yet. Also, my experience this month with two of my other listings– both with multiple offers and very short time on market (approx one & two weeks respectively)—is telling me that when the right property comes on with the RIGHT PRICE, it will sell at 97-98% of asking price and it will sell relatively quickly.
Hi, I’m the one with the house that has been on the market for 510 days! It’s actually been over 4 years now, I let the listing expire when I switched agents. Never never did I ever think it would take this long to sell a house in this area! Realtors loved it during open houses. People are ok with the price, the house is in really good shape, but no one is biting! Extremely disappointing.