Mining for Data - Part 7

We have gone to a lot of trouble to this point to gather sales data and massage it to provide some statistical picture of how the neighborhood market has been performing. The data from Realist.com can be summarized like this [apology for the massive white space]:

Summary of Data from Realist.com
Year	# Sold	Min SP	Max SP	Mean SP	Median SP	Mode	Std. Dev.
2001	39	$30,000	$129,000	$60,619.23	$59,000	$62,000	$17,967.33
2002	42	$23,000	$118,500	$62,476.19	$59,550	$35,000	$20,502.13
2003	56	$12,003	$157,500	$67,249.98	$67,100	$55,000	$23,168.68
2004	84	$15,000	$175,000	$72,363.56	$75,000	$80,000	$30,403.45
2005	71	$8,900	$147,700	$74,739.11	$75,500	$75,000	$27,609.10
2006	89	$21,525	$116,500	$72,970.78	$75,000	$80,000	$19,934.08

So what does this seem to tell us? It appears that the mean and median sales prices in this neighborhood have increased by roughly 25% over a six year period. This fits the general trend that has been trumpeted through the land with respect to rising property values. The data from the MLS needs to be added to provide some information about average market times :

Summary of Data from CRIS MLS
Year	# Sold	Avg DOM	Min SP	Max SP	Mean SP	Median SP	Pred. Price Range
2001	42	62	$19,000	$129,000	$56,957	$50,200	$30,000-$39,999 (8)
2002	42	86	$20,000	$131,000	$53,146	$39,500	$20,000-$29,999 (11)
2003	60	75	$7,000	$157,500	$42,365	$31,550	$30,000-$39.999 (18)
2004	66	77	$8,000	$130,880	$49,339	$35,125	$20,000-$29,999 (19)
2005	69	83	$11,000	$139,900	$40,506	$32,000	$20,000-$39,999 (18)
2006	80	85	$9,500	$109,900	$39,343	$30,500	$20,000-$29,999 (24)

WAIT A MINUTE!! THAT CAN'T BE RIGHT!!!!

Tune in next time for another exciting adventure with Top-Notch Appraiser, and we will try to make some sense of this. In the meantime, go back and think about those assumptions that had to be made with respect to the data from Realist.com.