Are “Traditional Sellers” Waiting For Fewer Foreclosures?

Want a shorthand for knowing when the housing market has truly turned around?

Watch what’s called “the median sale price” — statisticians’ term for the midpoint of a given group.

So, the median price of 101 sold homes would be that price which is lower than 50 of the prices and also higher than 50 of them.

Why the Median Matters

Why is the median price important?

In a market (still) flooded with foreclosures, the median is a low — and declining — number.

However, as the mix of sold homes includes more “traditional” sales and fewer foreclosures . . . that number heads up. 

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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