$972,510
88.41 Acres
Land
Kristopher Buchan, Listing Office: Tompkins Cortland Real Estate
Is Ithaca, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Ithaca was a Buyer's Market.
Key Takeaway
Ithaca is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ithaca, NY
How much do homes in Ithaca, NY cost?
Median Sold Price
$380,000
$179/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$26,000(-6.4%)
Key Takeaway
Homes in Ithaca have sold for 6.4% less than they did a month ago.
Summary: The median home sold price in Ithaca was $380,000 in November 2024, down 6.4% from last month, and the median price per square foot was $179.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $225K | $259K | +15.1% |
| 4 Bedrooms | - | $373.2K | N/A |
| 5+ Bedrooms | $418K | $539.9K | +29.2% |
Summary: Ithaca housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 15.1%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 29.2%.
Housing Supply in Ithaca, NY
How many homes are available in Ithaca, NY?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 20 | 19 | -5.0% |
Summary: The Ithaca real estate market had 19 homes for sale in November 2024, a 5.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The Ithaca housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Ithaca, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Ithaca in November 2024, up by 66.7% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Ithaca, NY
How long does it take to sell a home in Ithaca, NY?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 22 Days | 31 Days | +44.5% |
Summary: Homes in Ithaca had an average of 31 days on market in Nov 2024, up by 44.5% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Ithaca has remained consistent over time.
Summary: During November 2024, 5 homes were sold in Ithaca; 40% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
IDX Disclaimer/Disclosure: The data on this website relating to real estate for sale comes in part from the IDX Program of the Multiple Listing Service of the Elmira-Corning Regional Association of REALTORS®, Inc.