“Hi, do you think the bank will consider an offer of $150,000 for this place? According to the latest statistics, Julian homes have taken a 75% hit.”
***ANSWER:
Julian has not dropped even close to 75%. The statistic you refer to is based on one June home sale, which is not statistically significant.
When you look at changes in the median price, keep in mind medians can be misleading (long discussion) and make sure it’s based on a large number of sales, say 20+.
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