Originally Posted by
funguspudding
Yes - value is the price between two willing parties. You cannot work out the average from the median, and neither the average or median tells you the increase or decrease in value. If all properties fall in value by say 20%, and the low end stops or slows (as it will when values fall) then the median will rise, the average will probably rise and your money will buy a better property than it would have previously because values have fallen. An extremely good indication of what the market is doing is to look at the number of properties on the market that are sticking. That's another thing that is distorted with 'days on market' quoted by the REINZ. It only relates to days on market of the ones that actually sell; even then those figures are often rubbish, because there is no way of checking each agents returns as far as days on market are concerned. At the moment there are heaps of unsold properties throughout the country. There are huge numbers of properties that have been withdrawn waiting for better times. The market is still depressed.