Mar
02
Median Sale Price
ByThe sale price of the middle property when all sales in a selected area are arranged in price order from lowest to highest (i.e half way through the series). Where there is an even number of sales, the median is the average of the two middle sales. median sale prices are often quoted and worshipped by real estate companies as indicators of what the property market is doing. Whilst they can show trends they are very easily skewed by a large number of high end or bottom end sales, moving the middle sale price up or down to become a meaningless figure.
In the following example, the median price is $125,000:
$50,000; $120,000; $125,000; $530,000; $2500,000
