The average market time on the Eastside, as of today, is 87 days and the Average price is $808,000. The median market time is 61 days and the median price is $639,000. You probably know that the average takes the total volume or days and divides by the total number of sales.
the median is the middle between the high and the low. both statistics only show a trend. the trend that they show is that our market on the Eastside is quite healthy.
Another important statistic is the ratio of sales price to list price compared to market time. Right now, on the Eastside, single family homes that sell in zero to 30 days, sell at 98.11% of list price. Homes that are on the market 31 - 60 days sell at 96.7% of list price. This means, for a seller, put your house on the market at the right price.
Knowledgeable competant agents can do a detailed report to predict what that 30 Day Price is. if you'd like to see visuals on what's happening in the market, go to http://www.mcknightrealty.com and click on Market Statistics. You will find some very informative graphs.
What is important to note is that whether or not it is a good time to buy or sell depends on your personal goals you want to achieve and problems you want to solve. You maky your money in real estae on your "Buy".