The Median Sale Price Myth: Unpacking Neighborhood Variations in Housing Values

In the real estate market, the median sale price is often touted as a key metric for understanding local market conditions. However, a closer look at the data reveals that this metric can be misleading, especially when comparing different neighborhoods. For instance, in Sturgis, the median sale price is a whopping $123,210,066, while in Indian Creek, it's a more modest $39,902,000. Meanwhile, in Indian Field, the median sale price is $17,500,000, and in Makena, it's $17,250,000. The data also shows that in Hillsboro Beach, the median sale price is $15,650,000, and in Sagaponack, it's $15,500,000.

When comparing these cities, we can see that Sturgis has a significantly higher median sale price than the other cities. In fact, the median sale price in Sturgis is more than 3 times that of Indian Creek. This suggests that Sturgis may have a more exclusive and high-end market compared to the other cities. For a more in-depth analysis of neighborhood prices, be sure to check out our neighborhood price analysis to see which cities are leading the charge in price appreciation.

Days on Market and Inventory

Another important metric to consider is the days on market and inventory levels. According to the data, the median days on market in Sturgis is 102, while in Indian Creek, it's 149. Meanwhile, in Indian Field, the median days on market is 496, and in Makena, it's 409. The data also shows that in Hillsboro Beach, the median days on market is 149, and in Sagaponack, it's 82. For a closer look at the median price trends in these cities, be sure to check out our median price analysis to see which cities are showing the most promise for real estate investors.

Price Analysis

For a more comprehensive look at the price trends in these cities, be sure to check out our price analysis to see which cities are emerging as hotspots for real estate investors. According to our data, Sturgis has a significantly lower average inventory compared to the other cities, with an average of null, suggesting a more seller's market compared to the other cities. In contrast, Indian Creek has an average inventory of null, while Indian Field has an average of 1, and Makena has an average of 5.

Cooling Markets

For a look at cities with surging housing inventory, be sure to check out our cooling markets analysis to see which cities are experiencing a slowdown in home sales. According to our data, Sturgis has a median days on market of 102, while Indian Creek has a median days on market of 149, suggesting that Sturgis may have a more competitive and faster-paced market compared to the other cities.

Median Prices Analysis

For a look at the top 10 booming U.S. cities where median list prices are skyrocketing, be sure to check out our median prices analysis to see which cities are leading the charge. According to our data, Sturgis has a median sale price of $123,210,066, while Indian Creek has a median sale price of $39,902,000, suggesting that Sturgis may have a more exclusive and high-end market compared to the other cities.