Time for a real estate market update for the greater T-burg area.

Currently there are 44 residential properties listed for sale (in the mls) within the Trumansburg School District.
The average listed price is $273,961 and the median (or middle) listed price is $236,000.
The lowest listed price is $79,900
The highest listed price is $1,100,000

YTD there have been 25 closed residential sales within the Trumansburg School District.
The average selling price is $204,844 and the median (or middle) selling price is $215,000.
The average days on market is 145.
The lowest sold price is $83,000
The highest sold price is $351,250

The absorption rate for Trumansburg is 10 months. That means with the current inventory vs. the number of sold homes this year, it will take 10 months to sell all the listed inventory.
Absorption rate is the rate at which available homes are sold in a specific real estate market during a given time period. It is calculated by dividing the total number of available homes by the average number of sales per month.

*stats courtesy of the Ithaca Board of REALTORS mls.