Jim, a few months ago, I kept reading on this blog that individual home prices were dropping, yet the median was still going up. I remembered my house sold for less than it could have last summer. So I started asking everyone I knew, “How come prices are dropping but the median is still going up?” I was given the answer by Bob C, who got it by analyzing the MLS sales.
The high end was 8.5% of sales last year, but is 10% of sales this year. Not a big difference, but enough to skew the median up.
My house would have sold for the higher price last summer. I explained the reason in another post yesterday.
I’m happy with my price, but not my husband. He wanted to hold out for a better offer.
