Tuesday, May 27, 2008

This weeks median asking price

The nose dive continues. The low end really took a dive this week, with the mid price level dropping about average (4k per week) and the high end took it easy this week only dropping $900. The inventory numbers are basically unchanged, going up a few hundred.

Trend05/26/20081 month3 month6 month12 month
Median Price$285,000-4.7%-12.8%-20.8%-30.3%

(SFH + Condo)
25th Percentile50th Percentile
75th Percentile


bigdog76 said...

Dum Question

What is the difference between the median asking price and the 75 percentile?

What is this based on the highest priced homes to the lowest?

What is the cut offs?

golfer_X said...

Take a list of numbers, lets say 1 to 100.

The median is 50
the 75 percentile is 75

It's that simple. The median asking price of those 47,187 homes is home # 23,594 and the 75th percentile is home # 35,390

Dena M said...

Have you noticed homes in Corona that are under $300K are going pretty fast? I put in two offers this week at the asking price and got out-bid on both. I didn't think they were super deals at about $160 sq ft, and REOs at that. Is this a sign of the housing bust beginning to recover, or just a result of the usual spring time increase in sales?

golfer_X said...

it's not a sign of recovery. It's a sign that everyone is after the same few homes. The prices are still plummeting. Every graph, every chart and every organization is showing price declines, increasing foreclosures and in most areas declining sales. Prices are not going any where but down until the inventory and the foreclosures start to decline. Most "experts" are now predicting prices won't stabilize until 2010. Of course the NAR are saying late this year but there is a better chance of me winning the US Open.