What is the median Sales Ratio identified in a given study?

The median Sales Ratio is a key statistical measure used in appraisal and real estate analysis that indicates the middle value of a set of sales price ratios, which are calculated by dividing the sale price of a property by its assessed value. The median is particularly useful because it is not affected by extreme values or outliers, providing a more accurate reflection of the typical ratio in a data set.

In the context of this particular study, the median Sales Ratio indicates the central tendency of the ratios observed in the analyzed property transactions. A median value of .2864 suggests that this ratio is a representative figure for the sales performance relative to assessed values within the sample analyzed, offering crucial insights into market conditions and assessments.

Understanding the median Sales Ratio is essential for appraisers as it aids in ensuring that assessments reflect true market conditions while adhering to standards for objectivity and reliability.