Splitting Hairs Boston Condos For Sale Ford Realty

Data released shows that segments of the real estate market are seeing big changes:

In April 2007 homes for sale under $500,000 accounted for 40 percent of all sales and homes priced from $500,000 to $1 million accounted for 45 percent of all sales. That shifted in April 2008, with homes under $500,000 accounting for 64 percent of all sales and homes from $500,000 to $1 million accounting for 26 percent of all sales, the association reported.

This is in California, but I believe it’s an accurate picture of what’s happening, across the nation.

I never really thought about it before. Is median and average sales prices thrown off by levels of sales in different segments? It appears to be so.

Lower end, and perhaps, higher end, homes are selling, while the “middle-end” buyer sits it out.

That’s going to mess with the data.

This is what’s happened in Boston, in Beacon Hill, for example. “Median” prices went down, but only because in certain price ranges, sales stopped.

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