News, market updates, listings, fun facts and all things Sedona Real Estate
May 20, 2013
Sedona Residential Real Estate - MEDIAN SALE PRICE
Median Sale Price usually provides a better gauge of home prices than average sale price. Median represents the price point where half of the homes are selling below and half above the price point, whereas average is derived by dividing the total added value of homes sold by the sold volume. Averages can easily be skewed by one or two high end sales or by distressed sales at the low end of the sales price spectrum.
Sedona residential median sale price peaked in late 2006 at $540,000 and bottomed at $315,000 in April 2011, representing a 42% price drop. As of the end of April 2013, median sold price had recovered by 8% at $340,000. Read Full Report.