Median sales prices almost back to high of 2007
Scott P. Rogers
The graph above shows four periods of changes in the local median sales price....
- 2000-2003: Normal Growth
- 2003-2006: Unsustainable Growth
- 2006-2011: Correction
- 2011-2016: Recovery
Between the start of last decade (2000) and the peak of the housing boom (2007) the median sales price increased from $116K to $195K. Then, the median sales price dropped all the way back down to 169,900 in 2011.
Now, in 2016, we are almost all the way back up to the 2006 peak of a median sales price of $195,100 -- with our current median sales price of $195,000. Thus, if you bought in 2007, your home almost (-2.6%) be now worth what it was when you purchased it.
