What does Median Price mean?

The median price is a way to measure the typical price of a home or other real estate property. It is calculated by taking the middle value from a list of all the prices of similar properties that have recently been sold. So, if there are ten properties that have been sold and their prices are listed in order from lowest to highest, the median price would be the fifth one on the list.

Related Terms

Corner Influence Examination of Title Good faith Estimate Infill Development Annual Mortgagor Statement Work Letter Construction Documents Lease Buyout Impact Fees Open Space Straight Sale Co-Signer Unsecured Loan Condemnation U.S. Department. of Housing and Urban Development (HUD) Insurable Title Closing Cluster Development