Understanding real estate statistics; avg vs. median etc.
Every so often I try to read the area board of realtor statistics and I get really confused. To say I'm math challenged is probably the understatement of the century.
There are three things that get mentioned
depreciation (although this wasn't in the stats for August which is the latest month)
average sales price
median sales price
What do these mean in terms of real estate? Why do they list them all? By year? by month?
How do these help you as a buyer? Or alternatively as a seller trying to price a house?