Newly released data for December shows that potential buyers and sellers in Tompkins County saw houses sell for lower than the previous month's median sale price of $285,000.
The median home sold for $235,000, an analysis of data from Realtor.com shows. That means December, the most recent month for which figures are available, was down 17.5% from November.
Compared to December 2022, the median home sale price was down 19% at $235,000 compared to $290,000.
Realtor.com sources sales data from real estate deeds, resulting in a few months' delay in up-to-date data. The statistics don't include homes currently listed for sale, and aren't directly comparable to listings data.
Information on your local housing market, along with other useful community data, is available at data.ithacajournal.com .
Looking only at single-family homes, the $235,000 median selling price in Tompkins County was down 11.3% in December from $265,000 the month prior. Since December 2022, the sale price of single-family homes was down 15.8% from a median of $279,000.
No single-family homes sold for at least $1 million or more during the month.
Condominiums and townhomes decreased by 43% in sales price during December to a median of $340,000 from $596,250 in November. Compared to December 2022, the sales price of condominiums and townhomes was down 32% from $500,000. One condominium or townhouse sold for $1 million or more during the month, compared to zero recorded transactions of at least $1 million in December 2022.
In December, the number of recorded sales in Tompkins County dropped by 51.5% since December 2022 from 66 to 32. All residential home sales totaled to $10 million.
In New York, homes sold at a median of $364,868 during December, down 2.7% from $375,000 in November. There were 8,320 recorded sales across the state during December, down 27% from 11,394 recorded sales in December 2022.
The total value of recorded residential home sales in New York decreased by 22.8% from $7.2 billion in November to $5.6 billion this December.
Out of all residential home sales in New York, 11.85% of homes sold for at least $1 million in December, down from 12.08% in December 2022.
Sales prices of single-family homes across New York decreased by 2.5% from a median of $333,165 in November to $324,999 in December. Since December 2022, the sale price of single-family homes across the state was down 13.3% from $375,000.
Across the state, the sale price of condominiums and townhomes rose 2.4% from a median of $501,666 in November to $513,523 during December. The median sale price of condominiums and townhomes is up 3.8% from the median of $494,840 in December 2022.
The median home sale price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what's happening in a market than the average sale price, which would mean taking the sum of all sale prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com . Please leave any feedback or corrections for this story here . This story was written by Ozge Terzioglu.
This article originally appeared on Ithaca Journal: Homes in Tompkins County sold for lower prices recently: See how much here
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