July 5 - The monthly median sales price in May 2021 was $390,000.
This means the median has doubled since January 2015. Half of that increase occurred in the most recent 12 months.
The owner of the median house has seen their home equity increase by $97,500 during the last year.
Turning to the average sale price, this exceeded half a million dollars in May 2021 for the first time ever, coming in at $506,226.
This means the average has doubled since February 2015. Half of that increase took place during the last 11 months.
The owner of the average house has seen their home equity increase by $126,557
If you are not sure what the difference is between median and average you can find plenty of examples and definitions using Google, so I won't repeat the information here.
However, in housing, a median price can be thought of as a "typical house price" where half the homes are more expensive and half are cheaper.
The average is usually quite a bit higher because high end homes distort the distribution pattern. It sounds weird to say it, but most houses are cheaper than average.