The median house price in Red Deer, Alberta, is $319 100.00. What does this tell you about the housing market?

Question

A) Half the homes in Red Deer cost more than $319 100.00 and half cost less than $319 100.00.

B) this is average house price in Red Deer.

C) This is the most common house price in Red Deer.

D) None of the above.

Answer 1

A) Half the homes in Red Deer cost more than $319 100.00 and half cost less than $319 100.00.

This tells you that the housing market in Red Deer is fairly balanced, with an equal number of homes priced above and below $319 100.00.