The Recovery Part III

Last time we saw that the 15% median price increase we hear in the news is really only about 8% when considering the mix of sales. Fewer distressed (discounted) properties in the mix make the median price rise. This time, let’s look at median price, traditional sales only, by price range. Houses above $300,000 have increased less than 1% over last year. They are essentially the same as 2 years ago: $396,050 vs $395,000. Houses in the $140,000 to $200,000 range are up 2% compared to last year, which was even with the year before. Here is my point: if you need your property appraised for reasons like divorce, estate or asset division, please call an experienced appraiser who can sort things out for you.AugustTraditionalMedianbyPrice

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