Definition of "Median"
The midpoint in a range of numbers. For example, the median (middle value) of a house in Nassau County on Long island in New York is $150,000. By using median values, a prospective buyer or seller of a home may have a better idea as to whether the price being asked in the neighborhood is reasonable.
Popular Real Estate Terms
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Written proposals and acceptances applicable to the aspects of the transaction. The escrow agent must follow the purchase and sale agreement. ...
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