It’s an issue that has been growing, literally and figuratively for years.
Housing in Tompkins County has been called a crisis by some, an issue by others, and ideal by very few. Last year proved to be another increase in the median home price, further generating concern about a problem, which is spiraling out of control.
According to the Ithaca Board of Realtors, the median sales price of a home in Tompkins County rose to $220,000 in 2016, an increase of 4.8% over the $210,000 median sales price in 2015. A median sales price is a better gauge of the affordability situation than using an average, where a few lakefront mansions can skew the statistics upward.
Homes are selling quicker, according to the numbers, but the price of those homes is rising, which creates a larger problem.