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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: John Chen who wrote (1272)12/31/2001 10:39:21 AM
From: GraceZRead Replies (2) of 306849
 
That is the average and the median which are rarely the same or even close. The median in this case would be meaningless because there aren't enough data points.

Median simple means half sold for more and half sold for less. You could have a situation where the median is 100,000 and half the houses sold for 99,000 and the other half sold for 500,000 and 100,000 would still be the median, but it would be far from the average.

Within 30 miles of my house you can find homes for 10 million and ones that you can pick up for $5,000. Obviously, an average would give you a distorted view because the median is around $140,000. It means half the houses sold, sell for less than that....but you can still find lots of high end homes with all the bells and whistles above 500k, also if $140,000 is out of your price range you can find a whole bunch of under 100k houses in places that really aren't bad places to live.
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