The median sale price for homes in May was $385,000. The median sales price for homes in May rose by $85,000 compared to last month. This represents a 28.33% increase from April. Compared to the same month last year, the median price of homes rose by $53,750 representing a 16.22% 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.