Ok the e-mails are flying about why I used the average sale price and not the median. I have been accused of hyping the numbers. The truth is the median numbers are higher not lower for 2009 when compared to 2008.
‘08
Median Sale Price $717,500
‘09
Median Sale Price $736,000
The median number shows a 2.5% increase in price over same period 2008. While the numbers do not lie I can’t think of one real estate agent or seller who thinks the market is up. Houses new to the market priced at 2009 levels and not 2007 levels are selling. The Case Shiller Index uses average price rather than median price. I’m just interperting the data.
