The Median Sale Price In The Long Beach Island Real Estate Market

Dated: 01/27/2015

Views: 600

Long Beach Island Real Estate

2014 proved to be one of the best years in the LBI real estate market. Overall, the number of homes sold and the average sales price both increased. One very effective measure of the real estate market is to look at the median sales price. The LBI real estate median sales price in 2014 showed some very interesting data. Before we get to that data, is helpful to understand what the median sales price is and why it is an effective measure of value. The median sales price of a home is essentially the midway point of all units sold over a given time. For example, it 101 homes were sold in a particular time frame the median house price would be in the middle. In other words there were be 50 homes priced above and 50 priced home below the median sale price. Median sales price is an effective tool as it shows the overall health of the real estate market.

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The Median Sale Price in the Long Beach Island Real Estate Market

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