In the week of August 23-29, Tompkins County experienced notable activity in the real estate market, which reflected both robust selling prices and diverse property offerings. The total number of residential real estate transactions during this period reached 19, with an average selling price of $568,658, translating to approximately $280 per square foot. Prominent sales included several single-family homes showcasing the county’s vibrant real estate landscape, particularly in Ithaca, which continues to attract buyers with its unique charm and amenities.
Notable Sales Overview
The highest sale recorded was for a single-family home at 113 W. York St. in Ithaca, fetching a remarkable $1.4 million. This residence, constructed in 1940, features a modest size of 1,352 square feet but commands a striking price per square foot of $1,054. It comprises three bedrooms and two bathrooms, highlighting how desirability can lead to elevated pricing, particularly in sought-after neighborhoods.
Following this luxury listing, the second most expensive sale was for a home at 116 Kelvin Place, also in Ithaca, which changed hands for $765,000. Built in 1910, this residence offers more space at 3,207 square feet and features four bedrooms and four bathrooms, underscoring the appeal of spacious properties in vibrant areas.
Detailed Breakdown of Sales
Here is a comprehensive snapshot of the ten most expensive home sales recorded during the specified week:
113 W. York St., Ithaca: $1,425,000
- Square Feet: 1,352
- Price/Sq Ft: $1,054
- Bedrooms/Bathrooms: 3/2
- Finalization Date: August 4
116 Kelvin Place, Ithaca: $765,000
- Square Feet: 3,207
- Price/Sq Ft: $239
- Bedrooms/Bathrooms: 4/4
- Finalization Date: August 5
9 Fairwinds Way, Lansing: $764,000
- Square Feet: 3,204
- Price/Sq Ft: $238
- Bedrooms/Bathrooms: 4/4
- Finalization Date: August 6
29 Chase Lane, Ithaca: $700,000
- Square Feet: 2,904
- Price/Sq Ft: $241
- Bedrooms/Bathrooms: 4/4
- Finalization Date: August 1
111 W. York St., Ithaca: $700,000
- Square Feet: 1,394
- Price/Sq Ft: $502
- Bedrooms/Bathrooms: 2/2
- Finalization Date: August 5
127 Hillcrest Drive, Ithaca: $525,000
- Square Feet: 1,380
- Price/Sq Ft: $380
- Bedrooms/Bathrooms: 3/2
- Finalization Date: August 6
241 Hunt Hill Road, Dryden: $520,000
- Square Feet: 1,728
- Price/Sq Ft: $301
- Bedrooms/Bathrooms: 3/3
- Finalization Date: August 5
2219 N. Triphammer Road, Ithaca: $402,400
- Square Feet: 1,512
- Price/Sq Ft: $266
- Bedrooms/Bathrooms: 3/2
- Finalization Date: August 5
16 Leisure Lane, Dryden: $303,486
- Square Feet: Unknown
- Price/Sq Ft: Unknown
- Bedrooms/Bathrooms: 2/2
- Finalization Date: August 7
- 287 Millard Hill Road, Newfield: $280,000
- Square Feet: 1,264
- Price/Sq Ft: $222
- Bedrooms/Bathrooms: 3/2
- Finalization Date: August 7
Market Insights
The sales data highlights a mix of older and newer homes across Tompkins County. The presence of historic homes, particularly in Ithaca, reflects a community rich in heritage, while newer constructions offer modern amenities sought after by today’s buyers. The disparity in price per square foot among these properties showcases the influence of location, size, and the condition of the homes.
Ithaca remains a hot spot due to its diverse amenities, vibrant culture, and proximity to natural attractions like gorges and lakes. The area has garnered attention not only from local buyers but also from individuals and families moving to the region from urban environments seeking space and connection with nature.
Conclusion
As the Tompkins County real estate market continues to evolve, the findings from August 23-29 indicate a steady demand for residential properties, particularly in popular locations such as Ithaca. The increase in average sale prices reflects a competitive market influenced by factors like location desirability and property features. For potential buyers, understanding these dynamics is crucial when navigating the market, while sellers can benefit from the continued appreciation of residential real estate values.
In summary, Tompkins County’s real estate scene is characterized by its diversity in property types and pricing structures, underscoring both the opportunities and challenges faced in today’s housing market. With the prospect of new developments and continued interest from buyers, observers will be keen to see how these trends develop in the coming months.
