1st Issue of March 2009
Resale
Sales Pricing Analysis
The
Median Price in the recently-released January ARMLS1 resale sales
reports is $130,000, a decrease of $13,000 from the December reports. The Average Price dropped from $194,700 to $180,400. The graph below displays both the monthly
Average Price and Median Price of resale homes sold in MLS from January 2002
through January 2009.
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.
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1 The Arizona Regional Multiple Listing
Service encompasses most of Maricopa and