The median price is where half homes sold for more and half homes sold for less. Median prices are more typical of market conditions than mean (average) prices because mean prices are skewed higher by a relatively small share of upper-end transactions.
Copyright, 2014, National Association of Realtors. Reprinted with permission.
Source: National Association of Realtors
Release: Existing Home Sales
National Association of Realtors, Median Sales Price of Existing Homes© [HOSMEDUSA052N], retrieved from FRED, Federal Reserve Bank of St. Louis https://research.stlouisfed.org/fred2/series/HOSMEDUSA052N/, October 4, 2015.