The Short Report on Newfield NY Real Estate
In 2023 there were 38 residential sales in Newfield, in spite of interest rates doubling during the second half of the year. While Tompkins County overall took a loss of $30M last year, and 61 fewer homes sold in the county, Newfield had its best year ever in terms of the number of residential sales, along with an increase in the sold price per square foot/SF ($166.85).
Year | Res. Sales | Avg. Sold Price | Avg. DOM | Avg. Sold price/SF |
2019 | 25 | 191,163 | 85 | 124.79 |
2020 | 23 | 206,758 | 47 | 107.26 |
2021 | 29 | 245,830 | 46 | 161.07 |
2022 | 28 | 288,311 | 16 | 151.47 |
2023 | 38 | 237,569 | 10 | 166.85 |
2024 YTD | 20 | 285,295 | 25 | 172.02 |
Newfield will likely end the year with a total of 28-32 residential sales. There are currently 8 listings pending.
Statistically speaking, since 2019 when the average price was 191,163 Newfield has been participating along with the rest of the county in significant appreciation in real estate. Between 2019-2023, 24% average appreciation over 5 years breaks down to roughly 5% per year. Remember, this is a theoretical average based on ALL of the sales we have recorded through the MLS. Many homes exceed these expectations, and some do not rise as high in gains. For the real drama though, reflect on the change in DOM – days on market. This is a huge story for Newfield! In 2019 it took an average of 3 months to get a home under contract there. Last year, a 10 day average for all sales indicates high demand, and a lack of inventory here as elsewhere. This trend is back up to 25 DOM, year to date. For a home in good condition, well priced, this could still be a time of good opportunity for a sale.
Can’t wait!
I am so excited to list this new property on Ithaca’s West Hill! I have been working with these clients for approximately 10 months since they first approached me last year after being referred by their friend who worked with me on a 2023 sale. It’s always so nice to have business sent from a client – thank you Rebecca and Will!!
Anyway, this house is one of the best under 400K homes available right now in a great downtown location. There isn’t a lot left to do since the owners painted ALMOST all of the inside recently. The windows are spotless, giving you a clear view beyond the trees. Thoughtful and PLAYFUL landscaping graces the front entry. Who doesn’t love a Dahlia springing forth with a burst of vibrant color? Then there are the ZINNIAS! Those too.
The home has nice hardwood floors, 2 big enclosed porches on the back of the house, one one each level, and a lower level with history as an apartment – this space is ready to go in multiple directions for a new owner; it could be captured to use all as one home, or separated by a new owner into a rentable living space.
Our hope is that the home will be irresistible for someone who likes the West Hill! If that could be you, give your agent a call today and come see a wonderful house just going on the market today! Link to the listing: https://portal.onehome.com/en-US/share/1073808N20052
What does it mean to be a “Market Leader”?
We hear this term often enough, but what does it really mean?
What is a so called “Market Leader”? At Warren Real Estate, we are fortunate to have earned this designation for decades running now. If a company is consistently placing at the top of the rankings, it is usually not by accident.
Warren as a company has the statistics to show their track record as leader of the pack in regional real estate sales. But the numbers are just one part of the story. I think there is more to it.
When I joined this company myself in 2010, I was looking for something in the leadership team. I might not have known exactly what that was, but I recognized it when I saw it early on, and it is what has kept me happy here for 13 years. The elusive quality that I really go for in a work environment, is connection. I knew the managers and owners at Warren Real Estate before I interviewed with them, but I didn’t really “know” them. Soon after joining the company, it became clear to me that I was a valued member of the team. My first office was down the hall from Bryan W. and Ed Dellert’s offices. I was across the hall from senior agent Ken Carnes. I regularly walked laps around the office to take breaks and would basically shout hello to Ed and Bryan, and chat with Ken when he was in. Another regular in my early days was Ed Laine – a Realtor/maple syrup maker from Newfield. Once, I needed help with a buyer who needed to see a place near Ed’s house. I offered to pay Ed to help me with the showing, but he refused to take a penny. Downstairs we had some legends of the local market – Linda Hirvonen, Alice Moore, Mo Reycroft, Lucy Missirian, Susan Lustick (all still with us). As I was truly struggling to make ends meet in those early days, I would hire myself out to the senior agents to do errands and stand in for inspections or broker open houses. I was thankful for the extra work between deals, and loved the contact and interaction this provided. I’m more of a loner than a joiner so I never joined a “team” in the formal sense. But I felt I was already on a great team, so that need was really being met. Tam W. invited me out to lunch in those first months just to ask how it was going. I was pleased as punch to be recognized, and again, affirmed by my leadership team through these gestures of interest and kind attention.
As the years move us forward and we encounter new challenges each year, this team continues to stay connected to their agents in the field. I see it in so many ways, and that comes back around to values, for me. This company is not only a market leader in the way of sales statistics; they lead the way with heart and soul. Anyone who works here gets to know this eventually; Warren Real Estate values their people! They make time, even in busy spells, to help; to answer questions; to plan a casual happy hour to touch base, or a town hall meeting to tackle a huge problem, with us. It feels like they see each and every individual who plays for the team, and take time to acknowledge and thank them for their unique contribution.
So in addition to my usual “unique value proposition”, I have this to think of – how valuable it is to me, and to my clients, to have this kind of support happening in the background.
As we roll up to Thanksgiving 2023, I want to thank my company and all of its members for providing leadership, inspiration, and a wonderful work environment in a hugely dynamic industry! And here, for your perusal, are some of our local board AND Warren RE actual statistics from the first 3 quarters of 2023!