The "Median Price" shows the price at which there were an equal number of sales higher than or lower than that price. Have prices been increasing, decreasing, and how fast?
Source: MLS (Multiple Listing Service)
Our opinion of what it meansJanuary 2012: The December median sales price for single family homes was $475,000, a little higher than it has been running most of the year. 40% of the December sales were short sales or bank-owned properties. The portion of the sales that was in the more affordable areas of San Lorenzo Valley and Watsonville was 31%.
The subset of sales under $500,000 was 54% of the total sales. 7% of the 159 December sales were for over $1,000,000.
Here are more specific details for the last year:
Sales under $500,000:
December: 54% of the sales (Overall median was $475,000)
November: 67% of the sales (Overall median was $410,000)
October: 55% of the sales (Overall median was $470,000)
September: 51% of the sales (Overall median was $490,000)
August: 52% of the sales (Overall median was $490,000)
July: 53% of the sales (Overall median was $460,000)
June: 46% of the sales (Overall median was $535,000)
May: 59% of the sales (Overall median was $435,000)
April: 58% of the sales (Overall median was $445,000)
March: 54% of the sales (Overall median was $476,900)
February: 54% of the sales (Overall median was $450,000)
January: 59% of the sales (Overall median was $425,000)
Sales over $1,000,000:
December: 7% of the sales (Overall median was $475,000)
November: 4% of the sales (Overall median was $410,000)
October: 6% of the sales (Overall median was $470,000)
September: 7% of the sales (Overall median was $490,000)
August: 8% of the sales (Overall median was $490,000)
July: 10% of the sales (Overall median was $460,000)
June: 12% of the sales (Overall median was $535,000)
May: 7% of the sales (Overall median was $435,000)
April: 4% of the sales (Overall median was $445,000)
March: 7% of the sales (Overall median was $476,900)
February: 12% of the sales (Overall median was $450,000)
January: 5% of the sales (Overall median was $425,000)
These examples show how the mix of sales influences the overall median price each month.
These examples show how the mix of sales influences the overall median price each month.
BACKGROUND: People who keep statistics argue whether the median price or the average price is a better indicator. The average price is calculated by totaling the sales prices and dividing by the number of sales. The median price is that price where an equal number of sales occurred at a higher price and a lower price than the median.