junsic, Other/Just Looking in Hopewell Junction, NY

Whis is the reason for current big differences between avg. listing price and median sales prices?

Asked by junsic, Hopewell Junction, NY Fri Apr 26, 2013

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3
If there are a few sales of very expensive homes in the area this can dramatically increase the average sale price. This effect is amplified in a market with few monthly sales creating an average sale price not representative of market conditions.
0 votes Thank Flag Link Sat Apr 27, 2013
Some of this can be caused by Short Sales & Foreclosures as well
0 votes Thank Flag Link Sat Apr 27, 2013
The average price is determined by adding all of the prices together and dividing by the number of houses.
The median is determined by discarding the highest and lowest price and then finding the mid point.
0 votes Thank Flag Link Sat Apr 27, 2013
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