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ITHACA — November proved to be a strong month for Tompkins County’s single family residential home market with 37 sales and an average selling price of $226,081, up 27 percent from the average price over the last 12 months.

The 37 transactions in November represented 4 percent of the 964 properties actively listed within Tompkins County. Transactions averaged 130 days-on-market, or a 10 percent increase from November 2009.

The average house sold for 93 percent of its listing price. During this year, the average sale prices for houses have ranged from 92 percent to 97 percent of the listing price.

For November transactions, 57 percent of Tompkins County houses sold for less than $200,000, 22 percent between $200,000 and $300,000, 5 percent between $300,000 and $400,000 and 16 percent were above $400,000.

A survey of three Tompkins County lenders found interest rates averaged 4.83 percent for a 30-year fixed rate mortgage. That resulted in a total monthly home ownership cost of $1,369 for the average home sold in Tompkins County during November.

“This fall the all-in costs of homeownership in the country is extraordinarily low, and for those with good credit the median priced home in Ithaca is very affordable.” said David Funk, director of the Cornell Program in Real Estate. “The higher priced Ithaca home market had seen significant price correction, and the surge in November sales is a signal that the extraordinarily low interest rates made payments on upper end value too good to pass up.”

The 27 percent increase in November selling prices in Tompkins County compares to a 1.5 percent decrease in national home prices. The U.S. Census Bureau reported an average U.S. new home sales price of $248,200 during October.