April 30, 2024 6:58 am
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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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© 2024 Rose Law Group Reporter

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.