The chart above is for sale prices of homes in the city of St. Paul over the past ten years. The data is from the MLS which is deemed reliable but not guaranteed. The table below shows the actual numbers.
For more information about local real estate prices please see:
Local Market Conditions & home prices
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Is it really possible that average home sales more than doubled in ten years? That’s average, not median, right? Are homes really more valuable overall, or is the average just being pulled up by a few over-the-top expensive homes?
–Steve
Stephen – the average did go up. It was pulled up by expensive homes and dragged down by inexpensive homes, that is why I like to use averages. They really are more valuable. I can look at what someone paid for a home 10 years ago and sell it for much more today if it is still in good condition. My own home more than doubled in the past 10 years, it trippled.
I’m gonna leave this one alone – before I become a broken record.
At this point I would like the record to show only that I wish to make the distinction between price and value, and that it is possible for them to move opposite each other, price going down, value going up, and the reverse as well.
PB
-The artist formerly known as Patient Buyer
Patient Buyer – you did say value you not price. I am used to looking at value as the price someone will pay for a home at a point in time. I know there are other ways of looking at it. . . hmmmm artist?