The median sale price for homes in May was $262,000. The median sales price for homes in May fell by ($37,000) compared to last month. This represents a 12.37% decrease from April. Compared to the same month last year, the median price of homes fell by ($22,000) representing a -7.74% year-over-year change.
The median sales price is the middle value of all sales occurring in the market during the past thirty days when you arrange these sales prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of a few unusually low or high sales prices.