4.6% Increase in Median Price Per Square Foot in 2016
Scott P. Rogers
In addition to monitoring home values by overall median sales prices in our market, it can be insightful to examine the median price per square foot of homes that are selling. The graph above shows the median price per square foot of all single family homes sold in the last few years.
The value trend captured by this graph is quite similar to the trend shown in the single family home median sales price during the same time, which validates that assumed set of changes in home values. Over the past year (2015 to 2016) we have seen increases in both the median sales price as well as the median price per square foot of single family homes.
The median sales price has increased 7% over the past year.
The median price per square foot has increased 4.6% over the past year.
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