The Median Sale Price Paradox: Where Homes Sell Fastest Despite Cooling Markets

In today's real estate market, the median sale price of homes is a crucial factor that influences the buying and selling process. However, when examining the data, a paradox arises - some cities have a high median sale price, but homes still sell quickly. This article will delve into the data to uncover the cities where homes sell fastest despite cooling markets.

Median Sale Prices and Homes Sold by City

Let's start by examining the median sale prices and homes sold in various cities. According to the data, Sturgis, South Dakota, has a median sale price of $369,375,000 with only 1 home sold. In contrast, Indian Creek, Florida, has a median price of $79,000,000 with 1 home sold. Indian Field, Connecticut, has a median price of $17,500,000 with 1 home sold, while Makena, Hawaii, has a median price of $17,250,000 with 1 home sold.

Median home analysis suggests that a higher median sale price doesn't necessarily mean a slower market. For instance, Hillsboro Beach, Florida, has a median price of $15,650,000, but homes sell quickly in just 149 days.

Another city with a high median price is Sagaponack, New York, with a price of $15,500,000. This city has a median DOM (days on market) of 82 days, which is relatively fast compared to other cities. In contrast, Makena, Hawaii, has a median DOM of 409 days, which is significantly longer. For more detailed information, check out our home sales analysis.

Water Mill, New York, has a median price of $11,711,000 and a median DOM of 157 days. Gulf Stream, Florida, has a median price of $11,475,000 and a median DOM of 199 days. These cities demonstrate that a high median sale price doesn't necessarily translate to a slower market.

Days on Market: A Closer Look

When examining the days on market (DOM) for each city, we can see a mix of fast and slow-moving markets. Sturgis, South Dakota, has a DOM of 200 days, while Indian Creek, Florida, has a DOM of 141 days. Indian Field, Connecticut, has a DOM of 496 days, which is significantly longer than the other cities.

Sagaponack, New York, has a DOM of 82 days, making it one of the fastest-moving markets. In contrast, Makena, Hawaii, has a DOM of 409 days, which is one of the longest. Water Mill, New York, has a DOM of 157 days, while Gulf Stream, Florida, has a DOM of 199 days. For more detailed information, check out our median home analysis.

Inventory and New Listings

Looking at the inventory and new listings for each city, we can see a mix of low and high numbers. Sturgis, South Dakota, has an inventory of 2 homes, while Indian Creek, Florida, has no inventory data available. Indian Field, Connecticut, has an inventory of 1 home, while Makena, Hawaii, has 5 homes in inventory.

Hillsboro Beach, Florida, has an inventory of 7 homes, while Sagaponack, New York, has 4 homes in inventory. Water Mill, New York, has an inventory of 18 homes, and Gulf Stream, Florida, has 5 homes in inventory.

Price Drops and Appreciation Rate

When examining the price drops and appreciation rate for each city, we can see a mix of high and low numbers. Sturgis, South Dakota, has a price drop of 0%, while Indian Creek, Florida, has a price drop of 0%. Indian Field, Connecticut, has a price drop of 0%, while Makena, Hawaii, has a price drop of 0.2%. For more detailed information, check out our where median analysis.

Hillsboro Beach, Florida, has a price drop of 0.1428571429%, while Sagaponack, New York, has a price drop of 0.25%. Water Mill, New York, has a price drop of 0.1666666667%, and Gulf Stream, Florida, has a price drop of 0%.

Conclusion

In conclusion, the data reveals that a high median sale price doesn't necessarily mean a slower market. Cities like Hillsboro Beach, Florida, and Sagaponack, New York, have high median prices but still sell quickly. On the other hand, cities like Indian Field, Connecticut, and Makena, Hawaii, have slower-moving markets despite their high median prices.

This paradox highlights the importance of considering multiple factors when analyzing the real estate market. By looking at the data, we can gain a better understanding of the complexities of the market and make informed decisions when buying or selling a home.