Median Home Sales Price in the United States from 2000 to 2022

The median home sales price is a statistical measure used in real estate to represent the middle value of the sale prices of homes within a specific area or market. It is the price at which half of the homes sold for a higher price and half sold for a lower price.

To calculate the median home sales price, all the sale prices of homes in a particular dataset are arranged in ascending or descending order. The middle value is then determined, representing the median price.

The median home sales price is often considered a more representative measure of typical home prices compared to the mean (average) price. It is less influenced by extreme high or low prices, providing a better understanding of the central tendency of home prices within a market.

Real estate professionals, homebuyers, and sellers use the median home sales price as a key indicator to assess the general price range and affordability of homes in a specific area. It is also helpful for tracking trends in home prices over time and comparing different neighborhoods or regions.

It's important to note that the median home sales price may vary depending on the geographic location, market conditions, property types, and other factors specific to the real estate market being analyzed.