I report weekly listings data, every week. Someone asked a logical question – okay, we see what the average asking price and median asking price is, but what about average sales price and median sales price?
Good question. Here’s three pieces of information:
Average sales price, citywide, 04/01/05 – 06/30/05: $538,578
Median sales price, citywide, last three months: $428,000
Average $ / SF: $513
Average sales price, citywide, 07/01/05 – 08/31/05: $538,734
Median sales price, citywide, 07/01/05 – 08/31/05: $419,000
Average $ / SF: $526
So, what does that mean? Average sales price has stayed constant, at least according to this data. Median sales price (half of sales above, half of sales below) has decreased slightly, about $9,000. Price per square foot has risen, just a bit, by $13.
Going forward, I will start quoting this sales data, on occasion. I don’t want to report it weekly, however, since, it isn’t, of course, my data (it’s LINK’s).