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Powers Median List Price
Median List Price is an important number because it is a good indicator of what direction Brokers and Home Sellers think the market is heading. Since median is the absolute middle of our market it shows what is selling.
A lower median number indicates a greater volume of lower priced homes are selling. Many buyer confuse a lower median number with the overall value of the market.
Days on Market is a measure of how many days it took a home to sell. This is an important number because it shows how long the average home takes to sell. When we see homes that have a significantly higher number of days on market then the average, we tend to look for red flags. This number only reflects the the Days on Market for homes that have Sold/Closed for the month.
This statistic is very price sensitive, the higher the price range the longer the days on market tends to be.