Who’s ready for a local Real Estate Market update?

ACTIVE:  7 residential properties are currently listed for sale in the Village of Trumansburg.

High: $925,000  Low: $88,600   Average: $354,229   Average DOM  115  (Days On Market)

The famous Juniper Hill B&B is for sale for $925,000.  Surprisingly this isn’t skewing the statistics because there are a variety of price points for the properties currently listed for sale in the Village:

McLallen B & B  $359,000 

101 Tamarack Ln $429,900

200 E. Main St  $338,600

213 Pennsylvania Ave  $214,000

117 E Main St $124,900

2118 Lake St Ext $88,600

Inventory is limited but demand for quality affordable homes in the Village remains healthy.

SOLD:

YTD 2013  (Jan 1 – Oct 21, 2013)  the Village of Trumansburg saw 14 residential properties sell via the MLS . 

High sold: $332,000  Low sold: $55,000  Average sold: $209,363   Average DOM: 122   List/Sale ratio:  96%

YTD 2014 (Jan 1 – Oct 21, 2014)  only 11 residential Village properties have sold.

High sold: $343,500  Low sold: $46,500  Average sold: $199,509    Average DOM: 101   List/Sale ratio: 96%

The average selling price this year as compared to last year is down but so are the days on market.  The stats are providing evidence for the argument that more affordable residential properties are in demand as they are selling at a quicker rate than last year at this time.  Sellers are still seeing their properties sell for about 96% of the list price.

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Now we take a look at the statistics for properties within the Trumansburg School District but outside of the Village boundaries.

ACTIVE: Currently there are 22 residential, non-lake front properties for sale (LISTED in the MLS) within the Trumansburg School District area.

High: $425,000  Low: $69,900  Average: $224,673   Average DOM: 97

SOLD: stats for non-Village, non-lake front residential Trumansburg properties:  

YTD 2013  (Jan 1 – Oct 21, 2013) the Trumansburg area saw 37 residential, non-lake front properties sell.

High sold: $447,500  Low sold: $75,000  Average sold: $196,612    Average DOM: 147   List/sale ratio: 95%

YTD 2014 (Jan 1 – Oct 21, 2014) the greater Trumansburg area has seen 27 non-lake front properties sell.

High sold: $297,400  Low sold: $37,000  Average Sold: $176,728   Average DOM: 126  List/sale ratio: 95%

The number of sold properties is down this year compared to last year at this time as is the highest sold price and the average sold price.  Lending credibility to the argument that buyers are demanding more affordable housing.   This year is also seeing less days on market compared to last, providing fodder for the argument that because inventory is limited, properties are selling quicker.

And that’s your Tuesday Trumansburg market update!

Remember, you can see the Trumansburg and all other listings for sale at http://www.HartandHomes.com !

Stats courtesy of the Ithaca Board of REALTORS MLS