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STATEMENT OF INFORMATION Section 47AF of the Estate Agents Act 198016 DUNCAN STREET, FLEMINGTON, VIC311Indicative Selling Price For the meaning of this price see consumer.vic.au/underquotingPrice
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How to fill out median sale price

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To fill out the median sale price, follow these steps:
02
Gather the required data for calculation, including the sale prices of all relevant properties.
03
Calculate the total sum of all sale prices.
04
Count the number of properties included.
05
Divide the total sum by the number of properties to get the average sale price.
06
Arrange all sale prices from lowest to highest.
07
Identify the middle value in the arranged list. If the number of properties is odd, this will be the exact middle value. If the number of properties is even, take the average of the middle two values.
08
The resulting value is the median sale price.

Who needs median sale price?

01
Median sale price is useful for various entities, including:
02
- Real estate agents and brokers: They need median sale price to determine property values and make informed pricing decisions.
03
- Homebuyers and sellers: Median sale price helps them understand the market trends and evaluate the fairness of a listing or offer.
04
- Appraisers: They rely on median sale price to estimate the value of a property for mortgage or insurance purposes.
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- Researchers and analysts: Median sale price provides insights into the overall market performance and can be used for market studies and forecasts.
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- Government agencies: They utilize median sale price for economic and policy analysis, as well as for monitoring housing affordability.
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The median sale price is the middle price point of all the sale prices when they are arranged in order from lowest to highest.
The individuals or entities involved in real estate transactions are typically required to file median sale price.
To fill out median sale price, one should compile all the sale prices from a given period and calculate the middle price point.
The purpose of median sale price is to provide a more accurate representation of the typical sale price and avoid skewing the data with outliers.
The information reported on median sale price typically includes the period of sales, the total number of sales, and the calculated middle price point.
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Relevant keywords

2018 1980 au flemington 47af underquoting ian reid duncan pty addresssearch landchannel omissions cth pricefinder ltd postcode woollard completeness comprise advocates median gov kilometres comparable indicative compiled suburb copyright constitute melbou

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