I’ve discovered when talking with clients that there is sometimes confusion between median price and average price. In a nutshell,
Median = 50% above and below the middle price point
Average= All numbers added and divided by the number of homes sold
The problem with average price is that often there may be one or two homes way on the high or low end that can skew the numbers. This often is not a fair representation of say the majority of homes in a given neighborhood or area. So unless your home is one of the odd ones very unlike the rest, then the median price range is a much better gage. You need to consult your professional realtor to be sure your home (or the home you are interested in) is one that would commonly fall in the median range.
Posts Tagged ‘homes sold’
Charlotte one of 12 Cities to hit new low….
Thursday, June 2nd, 2011According to the latest Standard & Poor’s/Case-Shiller National Home Price Index, US home prices hit their lowest level since the beginning of the recession.
Twelve of the 20 metro areas tracked by the index hit new lows in March: Atlanta; Charlotte, N.C.; Chicago; Cleveland; Detroit; Las Vegas; Miami; Minneapolis; New York; Phoenix; Portland, Ore.; and Tampa, Fla
Charlotte area February Residential Stats
Friday, March 19th, 2010According to Carolina MLS
Homes Sold- 1,397
Ave List Price: $216,605 / Ave Sold Price: $191,288
New Listings: 4,918
Pending: 1,954
Withdrawn: 1,250
Expired: 1,241
On Market: 24,043
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This information may be subject to errors and should be verified by the user.
* – The ‘On-Market’ figure includes contingent, conditional and active listings.
The CMLS official designated service area consists of 10 counties – Alexander, Anson, Cabarrus, Gaston, Iredell, Lincoln, Mecklenburg,
Montgomery, Stanly and Union – and the city of Kannapolis.