First, a math lesson from 7th grade! What is median vs. average? Median is the actual middle number of a group of numbers ranged from least to most. Average is the sum of all the numbers divided by the total #.
Why do you hear Realtors(R) use median more than average? Because it gives a more accurate picture of the actual "middle" sales price. The Average can be skewed by either really small or really large numbers.
So, what is the median sales price for Columbia residential sales in first quarter of 2011? $158,750. That's great, considering last year it was $145,750! Although the number of homes sold are down, the dollar amount of homes sold is up, meaning prices may be starting the turn around. All those buyers sitting on the fence, you better jump off before it's too late!
Say, you're new at this and you don't know where to start? Call.text.email me, jessica@craneandcrane.com or 573-673-5152 and I'll help you right along!
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