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News Article From: 03-28-2011




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Resale Sales Pricing Analysis

 

The Median Price in the recently released February ARMLS1 resale sales reports is $109,900, down $100 from the January reports.  The Average Price dropped slightly from $157,000 to $155,600.  The graph below displays both the monthly Average Price and Median Price of resale homes sold in MLS from January 2002 through August 2010.

 


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The average price is calculated by dividing the sum of the sales prices by the number of homes sold.  The median price is determined by finding the price where the quantity of homes sold for less than that price is equal to the quantity of homes sold for more than that price.  The median is a better indicator of the overall market.

 

 

 

 

 

Copyright® 2011 - This information is compiled and written by Ultimate Information Systems, Inc. Use of this article, in part or in its entirety, is expressly prohibited without written permission.  Click here to request limited rights to reuse this information

 

 

 

1 The Arizona Regional Multiple Listing Service encompasses most of Maricopa and Pinal Counties.

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