Ithaca Real Estate - Market Report for Single Family Homes in the Ithaca City School District, Year-To-Date

By
Real Estate Agent with Warren Real Estate 40SA1150031

Ithaca Real Estate - ICSD SFD Market Report for 2010, Year-to-Date:

Our market as a whole has performed very well from 2009 into 2010.  To date, we are ahead in the ICSD niche market, by 20 sales, with 118 pending.  The average sold price in the area went from $163,760 in 2009 to $175,610 in 2010.  The median went from $150,000 to $170,000.  The market was certainly stimulated by the first time buyer's and move up buyer's tax credits.  Nonetheless, the median price has jumped significantly, instead of trending down as it did from 2008 - 2009.  In that year, just 94 homes sold in the ICSD for the same time period, with the average sold price at$225,258, and the median sold price at $197,000.

Ithaca City School District – Market Report

Single Family and SFD w/Apartment

SOLD Jan 1- Dec 31, 2009, ICSD – 324 Properties

Statistics

(324 listings)

 

Low

High

Average

Median

Total

List Price

$50,000

$795,000

$222,993

$199,945

$72,249,686

Selling Price

$25,000

$745,000

$212,550

$190,000

$68,866,142

Sold/List(%)

43.48%

114.04%

95.06%

95.90%

--

Price/SqFt ($)

$7.04

$224.07

$120.20

$118.00

--

Price/Acre ($)

$0.00

$3,800,000.00

$241,535.88

$71,773.00

--

Days on Market

33

598

126

100

--

REMAX In MOTION

ACTIVE 2010, ICSD - 173 Properties

Statistics

(173 listings)

 

Low

High

Average

Median

Total

List Price

$59,900

$1,350,000

$298,051

$249,900

$51,562,785

Price/SqFt ($)

$35.32

$370.43

$134.69

$129.69

--

Price/Acre ($)

$0.00

$1,846,153.85

$266,022.13

$109,124.09

--

Days on Market

4

445

85

57

--

 

PENDING 2010, ICSD - 118 Properties

Statistics
(118 listings)

 

Low

High

Average

Median

Total

List Price

$69,900

$695,000

$243,173

$225,000

$28,694,400

Price/SqFt ($)

$41.61

$224.39

$129.55

$130.50

--

Price/Acre ($)

$0.00

$1,600,000.00

$201,774.07

$0.00

--

Days on Market

8

680

93

61

--

As of May 13, 2009, there were 159 properties sold in the Ithaca City School District.  This year, for the same period, 179 homes have sold.   We currently have a 6.4 month supply of homes for sale within this niche market.  Both the average and median sold prices have shown substantial gains for the period.

 

SOLD, Jan 1-May 13, 2009, ICSD

Statistics
(159 listings)

 

Low

High

Average

Median

Total

List Price

$19,500

$595,000

$174,316

$159,999

$27,716,313

Selling Price

$16,000

$550,000

$163,760

$150,000

$26,037,886

Sold/List(%)

43.48%

104.22%

93.49%

94.95%

--

Price/SqFt ($)

$10.39

$204.84

$95.69

$94.34

--

Price/Acre ($)

$0.00

$1,032,608.70

$139,185.81

$49,025.27

--

Days on Market

4

644

159

131

--

 

REMAX In MOTION

SOLD, Jan 1-May 13, 2010, ICSD

Statistics
(179 listings)

 

Low

High

Average

Median

Total

List Price

$19,900

$625,000

$185,186

$175,000

$33,148,330

Selling Price

$21,500

$520,000

$175,610

$170,000

$31,434,151

Sold/List(%)

72.24%

115.38%

94.74%

95.16%

--

Price/SqFt ($)

$15.76

$192.31

$98.85

$99.66

--

Price/Acre ($)

$0.00

$10,950,000.00

$205,465.06

$56,933.33

--

Days on Market

34

624

152

128

--

 

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Linda Santos

Realtor - Ithaca Fingerlakes NY Real Estate
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