Home Value vs. Median Price

By
Real Estate Agent with Keller Williams Realty

Hello friends.  I took my previous vlog here about 2 weeks ago and love this location. This is Folsom Lake in the background, near my house.  Many people have been making the analogy about the lake rising and home prices rising.  Well it is true that values are going up a little bit but I wanted to address specifically an article that was published locally last week about median home prices in sac have gone up double digits.  This doesn't mean that every home has gone up in double digits.  If three homes sell:  one for $100,000, one for $200,000 and one for $300,000 the median price would be $200,000.  However, if the next month one sells for $100,000, one sells for $200,000 and three home sell for $300,000 then the sale price didn't go up, just the median sales price went up significantly.   Therefore don't be confused about the median prices going up in the area versus the average home price going up.  With that said, I can let you know what your home would sell for today.  The market is still tight in the area with the number of homes for sale going down.  That is why we say now is such a great time to sell.  Homes look better with things blooming and with fewer homes on the market, your home will get even more view.  Call me and let's talk.  I want to help you!

 

Comments (2)

John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Kelly Groth This is very good helpful report on home values vs. median price.

Apr 18, 2016 09:43 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Kelly, great way to get the market stats out with your VBlog!    Glad to hear prices are rising nicely!

Apr 19, 2016 12:14 AM