Center for Applied Economic Research

The Price of Housing in Montana 2000

May 14, 2001

For The Board of Housing Department of Commerce, State of Montana

Compiled by
The Center for Applied Economic Research  
Montana State University Billings  
www.msubillings.edu/caer
Cheryl Heath
Housing Research Manager
406.657.2217  
caheath@msubillings.edu

Table of Contents

Results 1
Figure 1: Average Price 2
Figure 2: Average Price by Existing and New 4
Figure 3:Percent Change from 1999 to 2000 10
Charts: Price of Housing, Change Over Time 13
Charts: Price of Existing and New Homes 14
Chart: Average Price in Major Cities 15
Appendix I: 20 Most Popular Prices
              Percentile Prices
16

The Price of Housing in Montana

2000

The task was to create a database out of existing data supplied by Robert Morgan of the Montana Board of Housing, and then run appropriate statistics to investigate the average purchasing price of housing in Montana in 2000.  The information will be used to help the Montana Board of Housing establish new Purchase Price Limits for its single-family mortgage loan programs.

The Montana Board of Housing gathered the data on single-family home sales throughout the state.  The data are essentially a convenient sample drawn from realtors and mortgage lenders around the state.

RESULTS

Measures of central tendency:[1]  Percent increase over 1999 sample
(1999 measures are in parenthesis)
Mean = $131,407 6.9% ($122,914)
Median = $115,000 10.8% ($103,811)
Mode = $115,000 35.3%  ($  85,000)
Total sample size = 5,661 -13.3% (6,533)

 

Percentile Prices[2] Existing New
10 $58,512 $95,412
25 $81,975 $114,943
50 $113,000 $137,100
75 $150,000 $180,000
90 $210,000 $246,700

Figure 1
Average Price

Location/Condition Number Mean Median
TOTAL 5,661 $ 131,407 $ 115,000
CITIES[3]
Belgrade 65 123,039 121,597
Big Timber 63 125,055 115,000
Billings 800 126,938 107,750
Bozeman 154 210,643 159,950
Butte 139 81,066 66,000
Clancy 40 176,455 163,250
Corvallis 44 139,893 137,000
East Helena 83 88,282 89,000
Florence 64 153,026 139,900
Great Falls 406 116,202 99,900
Hamilton 86 120,997 110,250
Helena 603 124,501 114,900
Kalispell 67 146,371 138,500
Laurel 46 106,071 97,000
Lewistown 70 83,962 67,500
Livingston 140 113,804 91,875
Lolo 98 127,692 123,315
Missoula 1,005 151,678 135,000
Polson 56 169,007 138,950
Seeley Lake 53 122,960 101,000
Stevensville 111 141,717 129,900
Other Cities 1,468 107,150 85,000
COUNTIES

 

 

 

 

 

BEAVERHEAD

                     29

               85,019

               75,000

 

BIG HORN

                     15

               79,920

               69,500

 

BLAINE

                       7

               65,857

               63,000

 

BROADWATER

                     28

             103,782

               83,000

 

CARBON

                     33

             130,108

             115,000

 

CASCADE

                    568

             117,287

               98,050

 

CHOUTEAU

                       6

               90,083

               72,750

 

CUSTER

                     35

               63,811

               62,000

 

DANIELS

                       2

             108,000

             108,000

 

DAWSON

                     33

               68,809

               63,800

 

DEER LODGE

                     33

               59,839

               50,000

 

FALLON

                       4

               52,879

               52,250

 

FERGUS

                     94

               82,828

               63,000

 

FLATHEAD

                    134

             179,741

             138,950

 

GALLATIN

                    237

             182,524

             139,900

 

GARFIELD

                       1

               39,000

               39,000

 

GLACIER

                       8

               73,000

               65,750

 

GOLDEN VALLEY

                       3

               99,167

             110,000

 

GRANITE

                     15

               64,467

               57,000

 

HILL

                     26

               91,388

               86,500

 

JEFFERSON

                     66

             146,345

             144,500

 

JUDITH BASIN

                       4

               31,750

               30,000

 

LAKE

                    329

             190,254

             141,000

 

LEWIS & CLARK

                    727

             121,619

             112,194

 

LIBERTY

                       2

               61,000

               61,000

 

LINCOLN

                     44

               88,860

               81,250

 

MADISON

                       7

               88,686

               87,500

 

MCCONE

                       1

               44,900

               44,900

 

MEAGHER

                       3

             178,000

             169,000

 

MINERAL

                     31

               84,739

               79,900

 

MISSOULA

                 1,299

             147,524

             132,000

 

MUSSELSHELL

                     14

               94,725

               80,875

 

PARK

                    151

             116,818

               92,500

 

PHILIPS

                       5

               62,300

               75,000

 

PONDEROSA

                       5

               73,400

               53,000

 

POWELL

                     31

               83,472

               72,500

 

PRAIRIE

                       2

               32,500

               32,500

 

RAVALLI

                    330

             139,625

             129,900

 

RICHLAND

                     41

               70,695

               63,500

 

ROOSEVELT

                     11

               71,958

               55,000

 

ROSEBUD

                     20

               64,041

               71,250

 

SANDERS

                     11

             133,482

             135,000

 

SILVERBOW

                    140

               80,909

               65,500

 

STILLWATER

                     53

             147,994

             127,900

 

SWEET GRASS

                     62

             124,976

             114,546

 

TETON

                     10

               79,770

               76,750

 

TOOLE

                     19

               67,070

               60,000

 

VALLEY

                     25

               62,850

               50,000

 

WHEATLAND

                       8

               51,853

               56,650

 

YELLOWSTONE

                    899

             125,733

             107,500

MONTH

 

 

 

 

 

JANUARY

                    315

             124,001

             108,000

 

FEBRUARY

                    310

             117,690

             107,500

 

MARCH

                    419

             124,752

             114,500

 

APRIL

                    389

             132,452

             115,900

 

MAY

                    561

             128,596

             115,000

 

JUNE

                    653

             132,111

             119,000

 

JULY

                    519

             134,631

             115,000

 

AUGUST

                    660

             137,517

             122,500

 

SEPTEMBER

                    523

             134,425

             112,000

 

OCTOBER

                    534

             132,066

             109,900

 

NOVEMBER

                    425

             136,768

             120,000

 

DECEMBER

                    353

             131,892

             114,900

FIGURE 2

Average Price by Existing and New

           

Location/Condition

Number

 Mean

 Median

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL

 

5,661

          $  131,407

          $  115,000

 

 

 

 

 

 

 

CONDITION

Existing

5,278

             128,982

             113,000

 

 

New

383

             164,824

             137,100

 

 

 

 

 

 

 

 

 

 

 

 

CITIES[4]

 

 

 

 

 

BELGRADE

Existing

54

             124,049

             120,252

 

 

New

11

             118,079

             124,250

 

 

Total

65

             123,039

             121,597

 

 

 

 

 

 

 

BIG TIMBER

Existing

59

             125,422

             115,000

 

 

New

4

             119,648

             129,546

 

 

Total

63

             125,055

             115,000

 

 

 

 

 

 

 

BILLINGS

Existing

780

             124,512

             106,000

 

 

New

20

             221,568

             170,488

 

 

Total

800

             126,938

             107,750

 

 

 

 

 

 

 

BOZEMAN

Existing

134

             204,279

             155,950

 

 

New

20

             253,278

             209,235

 

 

Total

154

             210,643

             159,950

 

 

 

 

 

 

 

BUTTE

Existing

137

               80,169

               66,000

 

 

New

2

             142,535

             142,535

 

 

Total

139

               81,066

               66,000

 

 

 

 

 

 

 

CLANCY

Existing

40

             176,455

             163,250

 

 

New

0

 

 

 

 

Total

40

             176,455

             163,250

 

 

 

 

 

 

 

CORVALLIS

Existing

35

             139,289

             140,000

 

 

New

9

             142,244

             130,000

 

 

Total

44

             139,893

             137,000

 

 

 

 

 

 

 

EAST HELENA

Existing

79

               87,723

               88,400

 

 

New

4

               99,325

             120,750

 

 

Total

83

               88,282

               89,000

 

 

 

 

 

 

 

FLORENCE

Existing

58

             154,697

             139,950

 

 

New

6

             136,880

             138,450

 

 

Total

64

             153,026

             139,900

 

 

 

 

 

 

 

GREAT FALLS

Existing

395

             112,672

               98,500

 

 

New

11

             242,979

             160,000

 

 

Total

406

             116,202

               99,900

 

 

 

 

 

 

 

HAMILTON

Existing

80

             121,861

             110,250

 

 

New

6

             109,483

             108,500

 

 

Total

86

             120,997

             110,250

 

 

 

 

 

 

 

HELENA

Existing

543

             124,394

             114,999

 

 

New

60

             125,471

             113,810

 

 

Total

603

             124,501

             114,900

 

 

 

 

 

 

 

KALISPELL

Existing

66

             145,392

             138,200

 

 

New

1

             211,000

             211,000

 

 

Total

67

             146,371

             138,500

 

 

 

 

 

 

 

LAUREL

Existing

46

             106,071

               97,000

 

 

New

0

 

 

 

 

Total

46

             106,071

               97,000

 

 

 

 

 

 

 

LEWISTOWN

Existing

68

               82,211

               66,750

 

 

New

2

             143,500

             143,500

 

 

Total

70

               83,962

               67,500

 

 

 

 

 

 

 

LIVINGSTON

Existing

137

             114,321

               92,500

 

 

New

3

               90,201

               89,913

 

 

Total

140

             113,804

               91,875

 

 

 

 

 

 

 

LOLO

Existing

78

             128,690

             123,500

 

 

New

20

             123,802

             122,531

 

 

Total

98

             127,692

             123,315

 

 

 

 

 

 

 

MISSOULA

Existing

902

             148,251

             132,000

 

 

New

103

             181,691

             169,500

 

 

Total

1,005

             151,678

             135,000

 

 

 

 

 

 

 

POLSON

Existing

55

             167,262

             136,000

 

 

New

1

             265,000

             265,000

 

 

Total

56

             169,007

             138,950

 

 

 

 

 

 

 

SEELEY LAKE

Existing

51

             123,413

             101,000

 

 

New

2

             111,400

             111,400

 

 

Total

53

             122,960

             101,000

 

 

 

 

 

 

 

STEVENSVILLE

Existing

96

             141,631

             127,000

 

 

New

15

             142,269

             131,950

 

 

Total

111

             141,717

             129,900

 

 

 

 

 

 

 

 

 

 

 

 

COUNTIES[5]

 

 

 

 

 

BEAVERHEAD

Existing

26

               87,538

               75,000

 

 

New

3

               63,181

               50,000

 

 

Total

29

               85,019

               75,000

 

 

 

 

 

 

 

BIG HORN

Existing

15

               79,920

               69,500

 

 

Total

15

               79,920

               69,500

 

 

 

 

 

 

 

BLAINE

Existing

7

               65,857

               63,000

 

 

Total

7

               65,857

               63,000

 

 

 

 

 

 

 

BROADWATER

Existing

21

               89,895

               81,000

 

 

New

7

             145,443

             129,000

 

 

Total

28

             103,782

               83,000

 

 

 

 

 

 

 

 

 

 

 

 

 

CARBON

Existing

32

             125,267

             112,500

 

 

New

1

             285,000

             285,000

 

 

Total

33

             130,108

             115,000

 

 

 

 

 

 

 

CASCADE

Existing

552

             112,360

               97,825

 

 

New

16

             287,278

             179,950

 

 

Total

568

             117,287

               98,050

 

 

 

 

 

 

 

CHOUTEAU

Existing

6

               90,083

               72,750

 

 

Total

6

               90,083

               72,750

 

 

 

 

 

 

 

CUSTER

Existing

35

               63,811

               62,000

 

 

Total

35

               63,811

               62,000

 

 

 

 

 

 

 

DANIELS

Existing

2

             108,000

             108,000

 

 

Total

2

             108,000

             108,000

 

 

 

 

 

 

 

DAWSON

Existing

33

               68,809

               63,800

 

 

Total

33

               68,809

               63,800

 

 

 

 

 

 

 

DEER LODGE

Existing

33

               59,839

               50,000

 

 

Total

33

               59,839

               50,000

 

 

 

 

 

 

 

FALLON

Existing

4

               52,879

               52,250

 

 

Total

4

               52,879

               52,250

 

 

 

 

 

 

 

FERGUS

Existing

91

               80,943

               62,500

 

 

New

3

             140,000

             137,000

 

 

Total

94

               82,828

               63,000

 

 

 

 

 

 

 

FLATHEAD

Existing

128

             180,052

             138,950

 

 

New

6

             173,117

             141,500

 

 

Total

134

             179,741

             138,950

 

 

 

 

 

 

 

GALLATIN

Existing

206

             179,096

             139,900

 

 

New

31

             205,304

             136,650

 

 

Total

237

             182,524

             139,900

 

 

 

 

 

 

 

GARFIELD

Existing

1

               39,000

               39,000

 

 

Total

1

               39,000

               39,000

 

 

 

 

 

 

 

GLACIER

Existing

8

               73,000

               65,750

 

 

Total

8

               73,000

               65,750

 

 

 

 

 

 

 

GOLDEN VALLEY

Existing

3

               99,167

             110,000

 

 

Total

3

               99,167

             110,000

 

 

 

 

 

 

 

GRANITE

Existing

15

               64,467

               57,000

 

 

Total

15

               64,467

               57,000

 

 

 

 

 

 

 

HILL

Existing

26

               91,388

               86,500

 

 

Total

26

               91,388

               86,500

 

 

 

 

 

 

 

JEFFERSON

Existing

64

             148,193

             150,500

 

 

New

2

               87,228

               87,228

 

 

Total

66

             146,345

             144,500

 

 

 

 

 

 

 

JUDITH BASIN

Existing

4

               31,750

               30,000

 

 

Total

4

               31,750

               30,000

 

 

 

 

 

 

 

LAKE

Existing

319

             191,591

             141,900

 

 

New

10

             147,600

             108,500

 

 

Total

329

             190,254

             141,000

 

 

 

 

 

 

 

LEWIS & CLARK

Existing

653

             120,985

             111,900

 

 

New

74

             127,208

             125,200

 

 

Total

727

             121,619

             112,194

 

 

 

 

 

 

 

LIBERTY

Existing

2

               61,000

               61,000

 

 

Total

2

               61,000

               61,000

 

 

 

 

 

 

 

LINCOLN

Existing

43

               87,729

               80,000

 

 

New

1

             137,500

             137,500

 

 

Total

44

               88,860

               81,250

 

 

 

 

 

 

 

MADISON

Existing

7

               88,686

               87,500

 

 

Total

7

               88,686

               87,500

 

 

 

 

 

 

 

MCCONE

Existing

1

               44,900

               44,900

 

 

Total

1

               44,900

               44,900

 

 

 

 

 

 

 

MEAGHER

Existing

1

             130,000

             130,000

 

 

New

2

             202,000

             202,000

 

 

Total

3

             178,000

             169,000

 

 

 

 

 

 

 

MINERAL

Existing

29

               83,617

               79,900

 

 

New

2

             101,000

             101,000

 

 

Total

31

               84,739

               79,900

 

 

 

 

 

 

 

MISSOULA

Existing

1,150

             144,936

             129,900

 

 

New

149

             167,503

             157,100

 

 

Total

1,299

             147,524

             132,000

 

 

 

 

 

 

 

MUSSELSHELL

Existing

14

               94,725

               80,875

 

 

Total

14

               94,725

               80,875

 

 

 

 

 

 

 

PARK

Existing

148

             117,358

               92,500

 

 

New

3

               90,201

               89,913

 

 

Total

151

             116,818

               92,500

 

 

 

 

 

 

 

PHILIPS

Existing

5

               62,300

               75,000

 

 

Total

5

               62,300

               75,000

 

 

 

 

 

 

 

PONDEROSA

Existing

5

               73,400

               53,000

 

 

Total

5

               73,400

               53,000

 

 

 

 

 

 

 

POWELL

Existing

30

               82,921

               72,141

 

 

New

1

             100,000

             100,000

 

 

Total

31

               83,472

               72,500

 

 

 

 

 

 

 

PRAIRIE

Existing

2

               32,500

               32,500

 

 

Total

2

               32,500

               32,500

 

 

 

 

 

 

 

RAVALLI

Existing

293

             139,481

             128,900

 

 

New

37

             140,768

             130,000

 

 

Total

330

             139,625

             129,900

 

 

 

 

 

 

 

RICHLAND

Existing

39

               68,044

               60,000

 

 

New

2

             122,400

             122,400

 

 

Total

41

               70,695

               63,500

 

 

 

 

 

 

 

ROOSEVELT

Existing

11

               71,958

               55,000

 

 

Total

11

               71,958

               55,000

 

 

 

 

 

 

 

ROSEBUD

Existing

20

               64,041

               71,250

 

 

Total

20

               64,041

               71,250

 

 

 

 

 

 

 

SANDERS

Existing

10

             137,030

             135,000

 

 

New

1

               98,000

               98,000

 

 

Total

11

             133,482

             135,000

 

 

 

 

 

 

 

SILVERBOW

Existing

138

               80,015

               65,500

 

 

New

2

             142,535

             142,535

 

 

Total

140

               80,909

               65,500

 

 

 

 

 

 

 

STILLWATER

Existing

51

             137,054

             126,000

 

 

New

2

             426,963

             426,963

 

 

Total

53

             147,994

             127,900

 

 

 

 

 

 

 

SWEET GRASS

Existing

58

             125,343

             114,500

 

 

New

4

             119,648

             129,546

 

 

Total

62

             124,976

             114,546

 

 

 

 

 

 

 

TETON

Existing

10

               79,770

               76,750

 

 

Total

10

               79,770

               76,750

 

 

 

 

 

 

 

TOOLE

Existing

19

               67,070

               60,000

 

 

Total

19

               67,070

               60,000

 

 

 

 

 

 

 

VALLEY

Existing

24

               60,885

               50,000

 

 

New

1

             110,000

             110,000

 

 

Total

25

               62,850

               50,000

 

 

 

 

 

 

 

WHEATLAND

Existing

8

               51,853

               56,650

 

 

Total

8

               51,853

               56,650

 

 

 

 

 

 

 

YELLOWSTONE

Existing

876

             123,554

             106,000

 

 

New

23

             208,728

             151,000

 

 

Total

899

             125,733

             107,500

 

FIGURE 3

Percent Change from 1999 to 2000[6]

Location/Condition

 Number

 Mean

 Median

 

 

 

 

 

TOTAL

 

-13.35%

6.91%

10.78%

 

 

 

 

 

CONDITION

Existing

-14.69%

6.90%

11.55%

 

New

10.69%

0.94%

-3.21%

CITIES

 

 

 

 

 

BELGRADE

140.74%

6.51%

9.43%

 

BIG TIMBER

200.00%

12.85%

17.35%

 

BILLINGS

-1.23%

-1.22%

0.70%

 

BOZEMAN

43.93%

32.32%

20.26%

 

BUTTE

-59.59%

6.89%

1.54%

 

CLANCY

66.67%

14.77%

6.37%

 

CORVALLIS

-12.00%

-3.43%

-1.58%

 

EAST HELENA

159.38%

-30.23%

3.49%

 

FLORENCE

-37.86%

-7.31%

-3.52%

 

GREAT FALLS

9.73%

10.03%

10.39%

 

HAMILTON

3.61%

1.01%

0.32%

 

HELENA

177.88%

2.60%

2.68%

 

KALISPELL

-57.86%

19.92%

35.25%

 

LAUREL

-24.59%

2.73%

14.12%

 

LEWISTOWN

169.23%

1.21%

-9.09%

 

LIVINGSTON

204.35%

-2.92%

-2.78%

 

LOLO

44.12%

-2.54%

3.19%

 

MISSOULA

25.63%

0.57%

2.86%

 

POLSON

-35.63%

18.10%

15.79%

 

SEELEY LAKE

112.00%

32.57%

13.61%

 

STEVENSVILLE

-23.45%

-12.25%

0.74%

COUNTIES

 

 

 

 

 

BEAVERHEAD

-6.45%

-1.39%

-10.18%

 

BIG HORN

114.29%

-14.71%

-8.55%

 

BLAINE

133.33%

39.13%

26.00%

 

BROADWATER

115.38%

-6.71%

4.40%

 

CARBON

-15.38%

17.40%

21.05%

 

CASCADE

-57.74%

17.85%

10.17%

 

CHOUTEAU

-33.33%

-1.01%

-19.61%

 

CUSTER

-43.55%

-5.80%

-4.62%

 

DANIELS

100.00%

140.00%

140.00%

 

DAWSON

10.00%

15.97%

1.75%

 

DEER LODGE

-21.43%

-23.27%

-30.56%

 

FALLON

-55.56%

-1.97%

-3.24%

 

FERGUS

64.91%

-13.91%

-21.25%

 

FLATHEAD

-50.74%

43.03%

28.66%

 

GALLATIN

23.44%

6.37%

2.12%

 

GARFIELD

0.00%

-46.58%

-46.58%

 

GLACIER

14.29%

1.56%

-4.01%

 

GOLDEN VALLEY

200.00%

-30.60%

-23.02%

 

GRANITE

7.14%

2.15%

7.55%

 

HILL

18.18%

1.68%

11.25%

 

JEFFERSON

24.53%

1.55%

7.04%

 

JUDITH BASIN

100.00%

-54.64%

-57.14%

 

LAKE

109.55%

21.88%

10.24%

 

LEWIS & CLARK

157.80%

-28.01%

1.99%

 

LIBERTY

100.00%

-35.79%

-35.79%

 

LINCOLN

-18.52%

0.48%

2.85%

 

MADISON

-65.00%

-34.80%

-14.32%

 

MCCONE

-50.00%

-16.07%

-16.07%

 

MEAGHER

0.00%

69.79%

98.82%

 

MINERAL

-47.46%

-25.49%

-18.39%

 

MISSOULA

31.88%

-0.80%

1.54%

 

MUSSELSHELL

40.00%

1.64%

-13.18%

 

PARK

11.03%

0.74%

-4.87%

 

PHILIPS

-61.54%

-5.99%

3.45%

 

PONDEROSA

-37.50%

4.50%

-14.10%

 

POWELL

72.22%

46.37%

35.51%

 

PRAIRIE

-33.33%

-45.22%

-50.00%

 

RAVALLI

-65.34%

-4.17%

3.92%

 

RICHLAND

-57.73%

14.06%

9.48%

 

ROOSEVELT

-38.89%

54.66%

37.50%

 

ROSEBUD

233.33%

8.70%

14.46%

 

SANDERS

0.00%

36.18%

42.86%

 

SILVERBOW

-63.16%

-0.25%

-2.96%

 

STILLWATER

-15.87%

29.63%

27.26%

 

SWEET GRASS

129.63%

4.50%

16.29%

 

TETON

25.00%

-17.67%

-14.67%

 

TOOLE

5.56%

1.18%

-5.33%

 

VALLEY

19.05%

-5.12%

-19.35%

 

WHEATLAND

300.00%

-9.82%

-1.48%

 

YELLOWSTONE

-6.94%

0.55%

3.37%

MONTH

 

 

 

 

 

JANUARY

-14.63%

1.47%

7.46%

 

FEBRUARY

-15.76%

5.08%

16.85%

 

MARCH

-28.74%

3.95%

9.11%

 

APRIL

-31.87%

1.10%

5.46%

 

MAY

-19.16%

5.43%

9.63%

 

JUNE

-14.75%

3.02%

6.25%

 

JULY

-29.67%

10.64%

13.02%

 

AUGUST

6.80%

14.43%

22.84%

 

SEPTEMBER

-8.25%

9.56%

9.54%

 

OCTOBER

3.69%

6.18%

9.90%

 

NOVEMBER

4.17%

11.84%

15.66%

 

DECEMBER

6.65%

7.74%

13.76%

New and Existing Housing

Existing housing is defined as any housing that has had a previous occupant. For 2000, the average price of new housing was $164,824 and the average price of existing housing was $128,982. The average difference was $35,842.

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Appendix  I

20 Most Popular Prices

 

 

 Price

 Number Sold

 

1

             115,000

                     76

 

2

             125,000

                     66

 

3

               85,000

                     58

 

4

               75,000

                     57

 

5

             135,000

                     56

 

6

             110,000

                     53

 

7

             120,000

                     52

 

8

             105,000

                     49

 

9

               65,000

                     47

 

10

               95,000

                     45

 

11

               90,000

                     44

 

12

             130,000

                     43

 

13

             140,000

                     42

 

14

             100,000

                     41

 

 

             155,000

                     41

 

16

             145,000

                     38

 

 

             160,000

                     38

 

18

             165,000

                     36

 

19

               89,900

                     34

 

20

             185,000

                     32

Percentile Prices

 

Percentiles

 Total

 Existing

 New

 

 

 

 

 

 

                    0.5

               25,000

               25,000

               23,944

 

                    1.0

               29,000

               29,000

               49,200

 

                    1.5

               32,500

               32,093

               57,101

 

                    2.0

               36,000

               35,551

               70,000

 

                    2.5

               38,000

               37,500

               73,240

 

                    3.0

               40,000

               40,000

               74,760

 

                    3.5

               42,000

               41,000

               75,660

 

                    4.0

               43,000

               42,000

               80,296

 

                    4.5

               45,000

               44,356

               82,758

 

                    5.0

               46,500

               45,000

               83,737

 

                    5.5

               48,000

               47,052

               85,072

 

                    6.0

               50,000

               48,974

               85,816

 

                    6.5

               51,000

               50,000

               87,336

 

                    7.0

               52,000

               51,000

               88,755

 

                    7.5

               53,760

               52,416

               89,814

 

                    8.0

               55,000

               54,000

               91,540

 

                    8.5

               55,708

               55,000

               91,984

 

                    9.0

               57,500

               55,511

               92,280

 

                    9.5

               58,900

               57,500

               93,912

 

                   10.0

               60,000

               58,512

               95,412

 

                   15.0

               69,900

               68,000

             105,303

 

                   20.0

               76,900

               75,000

             110,000

 

                   25.0

               84,000

               81,975

             114,943

 

                   30.0

               89,500

               87,500

             119,200

 

                   35.0

               95,500

               93,500

             124,470

 

                   40.0

             102,000

               99,900

             129,900

 

                   45.0

             109,041

             106,000

             134,605

 

                   50.0

             115,000

             113,000

             137,100

 

                   55.0

             120,000

             119,000

             146,000

 

                   60.0

             127,000

             125,000

             153,000

 

                   65.0

             134,900

             131,756

             161,000

 

                   70.0

             142,000

             140,000

             168,720

 

                   75.0

             153,950

             150,000

             180,000

 

                   80.0

             165,000

             163,000

             189,920

 

                   85.0

             182,000

             179,500

             216,740

 

                   90.0

             214,000

             210,000

             246,700

 

                   90.5

             218,762

             214,774

             251,992

 

                   91.0

             222,326

             220,000

             254,290

 

                   91.5

             225,000

             225,000

             263,400

 

                   92.0

             230,075

             227,500

             266,613

 

                   92.5

             235,000

             232,113

             276,345

 

                   93.0

             240,000

             237,000

             285,313

 

                   93.5

             248,967

             245,000

             289,260

 

                   94.0

             255,000

             251,260

             299,820

 

                   94.5

             260,000

             259,103

             304,676

 

                   95.0

             269,860

             265,000

             318,400

 

                   95.5

             280,000

             275,000

             337,773

 

                   96.0

             287,318

             285,000

             357,386

 

                   96.5

             300,000

             299,212

             369,560

 

                   97.0

             319,126

             311,008

             385,822

 

                   97.5

             334,175

             328,025

             424,740

 

                   98.0

             361,217

             357,893

             432,525

 

                   98.5

             397,710

             390,000

             540,600

 

                   99.0

             455,000

             450,000

             702,897

 

                   99.5

             583,450

             550,000

           1,008,000



[1]  The CPI-U (national CPI for all urban consumers) increased 3.4% in 2000; the national CPI-U for housing increased 4.3%.

A variable like housing price can create a distribution that is highly skewed.  With such a distribution, the central tendency can have several values depending upon what needs to be emphasized:

                The mean:  The average price.  This would be a good measure to use to promote the area’s economic viability.

                The median:  Half cost more, half cost less.  This is a good measure if you want to know what your money will buy.

                The mode:  The most frequently occurring price.  The mode has risen significantly from 1999.  It is a coincidence that the median and the mode are identical.  The increase in the mode reflects the trend of purchasing more expensive housing.

[2]   Additional percentiles are listed in Appendix I.o

[3] Locations with 40 or more sales sampled.

[4] Locations with 40 or more sales sampled.

[5] New housing is listed only in counties with reported new housing.

[6] Numbers represent percent change from 1999 to 2000.  For example, the sample size is 13.35% smaller, the average price of houses increased 6.91%, and the median price increased 10.78%.

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