Home sweet median-priced home

medianhouses_tily_1400-1400x436By Sue Doerfler | The Republic

Median price: Analysts use it to explain how the real-estate market is doing.

It’s the midway point. Half the homes are priced more, half are priced less.

In addition to being a benchmark for the real-estate industry, it’s a point of reference for homebuyers and sellers, too. It represents the typical home in size, features and price in a given area.

Valleywide, paying the median price means buying a $205,000, 1,900-square-foot home with three or four bedrooms, said Mike Orr, director of the Real Estate Center at the W.P. Carey School of Business at Arizona State University.

Continued: 

Related: Sun, spring temps: It’s real estate’s peak season 

If you’d like to discuss real estate matters, contact Rose Law Group founder Jordan Rose, jrose@roselawgroup.com

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