Where is the market going? – a bit more statistics

So here it is early January 2007, where do we stand compared to last year at this time

According to statistics from the Northwest MLS for Bellingham

January 2007 there where 75 homes sold at average  sales price of $356,454 sold in 106 days

January 2006                      60 homes sold at average sales price of $ 312,674 sold in 60 days

     That is a 14% increase over last year.

Here is something interesting, if you look at the median price of homes sold the story is a bit different.

January 2007 saw the median price of a home sold in Bellingham as $300,000 in 89 days

January 2006                                                                        $297,500 in 56 days

The increase here is considerably lower at .8%

Another interesting stat is the ratio of pending sales to the number of homes available, which is 24.4%

What is the most accurate way to look at these numbers is it the median or the average? What do you think?

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