Median Sales Price
Median Sales Price is calculated by looking at a list of prices and selecting the value that lies right in the middle. This number is not an average but may more-accurately represent the group of numbers since extremely high or extremely low values are not considered as part of the calculation.
For example, in a list of five numbers such as [$1, $2, $3, $4, $5], the median price would be $3 since it is the number in the middle of the list.
The "Active Inventory" figure represents the number of homes available for sale.
When this number is abnormally high, we have a "buyer's market." Statistically, sellers may be seen to consider offers below their asking price and their homes may be listed longer than anticipated while they wait for the right buyer.
When this number is abnormally low, we have a "seller's market." Statistically, homes sell faster, sellers may be considering multiple offers, and homes may sell more often at or near their asking price.
MoM & YoY
MoM (Month Over Month) and YoY (Year Over Year) percentages represent the changes between the CURRENT month's or year's values and the previous month's or year's values. Tracking this information on a regular basis helps economists make predictions about the housing market and offers your agent some insight into the value of your home or how much you should offer when submitting a contract on a property.