RE.com.au median house prices?

Hi Guys,

How much value do you place on the median prices RE.com.au comes up with?

I just reviewed an area I own in and it jumped from 532k to 655k in 2 months :eek::D

Date Median House Price Median Unit Price
Mar-09 $537,500 $447,000
Apr-09 $500,000 $515,000
May-09 $520,000 $537,134
Jun-09 $511,500 $545,500
Jul-09 $500,000 $574,350
Aug-09 $572,500 $542,000
Sep-09 $590,000 $508,500
Oct-09 $576,500 $578,000
Nov-09 $590,000 $526,000
Dec-09 $532,500 -
Jan-10 - -
Feb-10 $655,000

Is there a better way that is not a swayed by one large sale?
 
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I wouldn't place too much emphasis on ONE months figures. Maybe there was a new development that sold 20 places.

If it stays that high for 6 months then I'd take notice. My opinion only (of course).
 
How much value do you place on the median prices RE.com.au comes up with?

Is there a better way that is not a swayed by one large sale?

You have medium (average) in your heading and then median (middle) in this message, the difference is very important and medians tend to be influenced less by one large sale which is why they use them. But as travelbug pointed out, I wouldn't be relying too much on short term medians, I've noticed they tend to be a bit all over the place. I'd rather look for a longer term trend.
 
You have medium (average) in your heading and then median (middle) in this message, the difference is very important and medians tend to be influenced less by one large sale which is why they use them. But as travelbug pointed out, I wouldn't be relying too much on short term medians, I've noticed they tend to be a bit all over the place. I'd rather look for a longer term trend.

well spotted, After I hit post I tried to edit the heading but it seems to only allow the editing of the post content and not the heading?

But yes its the median I meant. Not the medium.
 
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