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NSDCC Average and Median Prices by Month
| Month |
# of Sales |
Avg. LP |
Avg. SP |
Median LP |
Median SP |
| Feb |
224 |
$2,298,797 |
$2,257,334 |
$1,719,500 |
$1,758,000 |
| March |
252 |
$2,295,629 |
$2,260,524 |
$1,800,000 |
$1,825,000 |
| April |
357 |
$2,396,667 |
$2,403,962 |
$1,799,900 |
$1,828,000 |
| May |
300 |
$2,596,992 |
$2,581,715 |
$1,900,000 |
$1,994,500 |
| June |
348 |
$2,509,175 |
$2,537,953 |
$1,900,000 |
$1,967,500 |
| July |
311 |
$2,421,326 |
$2,442,738 |
$1,795,000 |
$1,855,000 |
| Aug |
268 |
$2,415,075 |
$2,438,934 |
$1,897,000 |
$1,950,000 |
| Sept |
278 |
$2,479,440 |
$2,445,817 |
$1,899,000 |
$1,987,500 |
| Oct |
248 |
$2,754,470 |
$2,705,071 |
$1,899,000 |
$1,899,500 |
| Nov |
199 |
$2,713,693 |
$2,707,359 |
$1,999,000 |
$2,100,000 |
| Dec |
189 |
$2,686,126 |
$2,664,391 |
$1,985,000 |
$2,157,500 |
| Jan |
140 |
$2,828,988 |
$2,855,213 |
$2,234,944 |
$2,240,000 |
| Feb |
158 |
$3,063,331 |
$3,108,907 |
$2,149,500 |
$2,386,500 |
| Mar |
207 |
$3,247,251 |
$3,337,348 |
$2,400,000 |
$2,625,000 |
| Apr |
227 |
$3,190,161 |
$3,251,604 |
$2,350,000 |
$2,550,000 |
| May |
214 |
$2,941,080 |
$3,030,794 |
$2,350,000 |
$2,480,000 |
| Jun |
188 |
$2,871,956 |
$2,881,314 |
$2,297,500 |
$2,350,000 |
| Jul |
152 |
$2,892,729 |
$2,833,588 |
$2,272,000 |
$2,280,000 |
| Aug |
161 |
$2,953,967 |
$2,849,332 |
$2,200,000 |
$2,150,000 |
| Sep |
134 |
$2,652,892 |
$2,560,764 |
$2,134,500 |
$2,020,000 |
BOTH THE AVERAGE AND MEDIAN SALES PRICES ARE -23% SINCE MARCH.
We saw that the difference needed to fully compensate for the higher rates is -30%. We’re almost there, and the full effect should be built in by springtime!
Please note that I didn’t say home prices are down 23%.
The median sales price is 23% lower than it was six months ago.
Bingo.
How much is ppsq down? Was the average home purchased in Sept smaller?
In March there was 207 sales with an avg of $1,028/sf and the avg house size was 3,498sf. There were 32 sales over $5,000,000, and 5 sales over $10,000,000.
In Sept there were 134 sales with an avg of $911/sf and the avg house size was 2,887sf. There were 8 sales over $5,000,000 and none over $10,000,000.
But nobody looks that close at the details – they just want to look at the median sales price and say it means every house has lost value.