Unraveling the Mystery of Median Sale Prices and Times on Market

When examining the real estate landscape of Sturgis, South Dakota, one striking metric stands out: a median sale price of $369,375,000 with homes staying on the market for 200 days.

Comparing this to Indian Creek, Florida, where prices are $79,000,000, we uncover a staggering difference of $290,375,000. As we delve deeper, we find that Indian Creek boasts 141 days on the market, a contrast to the longer Sturgis' median DOM.

Indian Field, Connecticut, presents an interesting anomaly with a median sale price of $17,500,000 and an unusually long median DOM of 496 days. In contrast, Makena, Hawaii, has a median sale price of $17,250,000 and a median DOM of 409 days.

Meanwhile, Palm Beach, Florida, boasts a median sale price of $13,750,000 with a relatively short median DOM of 85 days. This divergence highlights the intricate dance between price and time on market.

As we explore further, we uncover a fascinating correlation between median sale prices and times on market. For instance, Hillsboro Beach, Florida, has a median sale price of $15,650,000 and a median DOM of 149 days.

This analysis highlights the importance of understanding local market dynamics when navigating the complex landscape of real estate. To gain further insights, we recommend consulting our Home Sales Velocity Analysis and Median Home Price Momentum Analysis for a more comprehensive understanding.

Looking at the provided data, we see that the top cities with the highest median sale prices are Sturgis, SD, Indian Creek, FL, and Hillsboro Beach, FL. On the other hand, the cities with the lowest median sale prices are Indian Field, CT, and Makena, HI.

When examining the number of homes sold, we find that Palm Beach, FL, leads with 5 homes sold, followed by Sturgis, SD, Indian Creek, FL, and Indian Field, CT, with a single home sold each.

Regarding days on market, we observe that Sturgis, SD, takes the longest with 200 days, while Indian Creek, FL, has the shortest median DOM at 141 days. The median DOM for the remaining cities ranges from 82 to 199 days.

By analyzing these key metrics, we can gain a deeper understanding of the complex relationships between median sale prices, times on market, and home sales.

In conclusion, this analysis highlights the intricate dynamics of real estate markets and the importance of considering multiple factors when making informed decisions. To further explore these insights, we recommend consulting our Price Trajectory Analysis and Neighborhood Velocity Analysis for a more comprehensive understanding.

For a more detailed analysis of price appreciation, we recommend consulting our Price Trajectory Analysis and Top 10 Booming US Cities Analysis for a more in-depth examination.