Days on the Market for Reading, Vermont

A view of Mt. Ascutney and into New Hampshire from Grasshopper Lane in South Reading, Vermont.

Minneapolis, MN Realtor and blogger Don Skelly asks the question-

"Median price of real estate- what does it really tell us"?

According to Mr. Skelly- apparantly not alot. So what stats tell us the most about the local market? Average price? Lets look a t Reading, Vermont sales again. We compared the median price between 2006 and 2007 up until September 12.

The median was up from $285,000 to $340,000. But if you compare the average sales price you get a HUGE difference: 2006= $366,109 to 2007= $660,525

Isn't the median a better indicator of the market, in general. With sales low and the high end back, a $2,500,000 sales skews the average way up.

I like median for markets with small statistical samples like Reading. Or, to help get a better feel for the state of the market, we could also examine Days on the Market.

Reading , Vermont:

2006 Average days on the market: 118 days

2007 Average days on the market: 329 days

That's a big difference.