Nationally, the median average sales price increased 5.99% over the last year. Regionally, prices increased by 4.55% in the West, 1.16% in the Midwest, 7.09% in the Northeast, and 5.56% in the South.
The median price is that price where half the homes sold for a higher price and half sold for a lower price.
Seasonal factors come into play with larger homes being sold in the summer than in the winter.
BUT the median sales prices are as follows 1st if the West with a median price of $345,000 2nd is the Northeast at $287,000, 3rd is the south at $190,000 and 4th is Midwest at $174,000
I would have thought the south would have come in second to the west....any comments? With how the North is loosing population at an alarming rate and the south and west are gaining, it didn't make sense to me.
Info. is from the National Board of Realtors®