Are Vista CA Home Prices Going Up?
Median versus Average home price in Vista, CA
Click on the chart above and you’ll see that the median price of a home in Vista, CA is $360,000. Not on this particular chart is the average price of a home in Vista, and that price is $444,527. What’s the difference?
Median home pricing is most commonly used for purposes of analyzing the way homeowners and buyers see the market for buying and selling a home. The Median price indicates that half of the homes sold for MORE than the Median price, and half the homes sold for LESS than the median price. Why is this valuable?
If the median price of a home in Vista, CA is going up, it means that either prices overall are increasing (and that’s where we’ll use Average Price), or that more homes are selling beneath the median price, forcing the median price up from the pressure of more homes selling below the median price.
Said another way, if the median price of homes in Vista continues to grow, it will be an indication that the volume of homes selling is increasing, which is a sign that both home buyers and home sellers are beginning to reach an agreement on the value of the homes. Since we’ve been in somewhat of a freefall, this is a particularly good sign.
Average price, on the other hand, is simply found by adding up all the sales and dividing by the number of sales. Over time you would expect that the factors of inflation as well as an increasing demand for homes would result in the average price of a Vista home going up. This is traditionally what we saw for most of our lifetimes, and is still what we would expect in the future.
The chart above indicates that there seems to be enough buyers and sellers agreeing on a price that the market for homes in the Vista area is becoming robust and easier to judge. Look for the median price to continue to rise as long as interest rates remain low.
If you have an interest in talking more about homes in the Vista, CA area, please Contact Us.