As the summer seems to be flying by the real estate market in our area may feel a little slower right now. Typically, there is a slight slow down after the Independence holiday and some sellers may be feeling that.  In general though the market is solid and steady and by the stats below, is proving yet again that, if maintained properly, real estate is a safe, long term investment in Tompkins Co.

Here’s where the market stands for residential properties in Tompkins County – non lake front.

And there are 223 residential, non lake front properties under contract or sale pending in Tompkins County.  So if all of those properties do make it to the closing table before Dec 31, 2017 then the County will see only 512 residential units sold within Tompkins Co.  Below the average for the past 7 years.  Which confirms the lack of inventory for sale.  Now, there will be more listings coming on the market and going under contact as the year turns and that could spur the average higher.  We’ll just have to wait and see.   If you are on the fence about selling, this year might be the year for you and you might not want to wait!

Right now there are only 246 residential, non lake front properties listed for sale in the Tompkins County with an average list price of $323,000; median list price of $275,000. (There is a 2.4million dollar listing skewing the average). 

(Stats are courtesy of the Ithaca Board of REALTORS mls and include only those residential properties found within Tompkins County.)