Median list price vs. median sale price: which number should you quote?

The median list price and the median sale price are the two home price numbers agents quote most, and they answer different questions. The median list price is what sellers are asking for the homes on the market now. The median sale price is what buyers actually paid for homes that closed. In September 2026 they happened to land close together nationally: Realtor.com's median list price was $419,250 and NAR's median existing-home sale price was $417,500. They moved in opposite directions, though: the list median was down 1.4% from a year earlier and the sale median was up 1.3%.

What each number measures

Why they disagree

• Timing. A sale median in September mostly reflects contracts signed in July and August. A list median in September is this month's asking prices. When the market turns, the list median usually moves first.
• Which homes are in the count. Overpriced listings sit, so they stay in the list count month after month. Homes priced right sell and leave it. That can pull the list median above what homes really trade for.
• The mix. If more small or entry-level homes list or sell in a given month, the median falls even if no single home lost value. In September 2026 the median U.S. listing was 1,825 square feet, down from 1,839 a year earlier (Realtor.com), part of why the list median fell.
• Coverage. NAR's sale numbers cover existing homes sold through its reporting sources; new construction is counted separately by the Census Bureau. A local MLS median covers only that MLS.

How to quote them

1. Say which one it is. "The median sale price" and "the median list price" are different claims. Never just "the median price."
2. Give the month and the source. "NAR's September 2026 median existing-home sale price was $417,500."
3. Use the sale median for value, the list median for competition. A seller's price comes from what sold. What they compete against comes from what is listed.
4. Check price per square foot before calling a trend. It strips out most of the mix effect. Nationally it fell 1.3% in the year to September 2026, to $223 (Realtor.com).
5. Go local for anything about a specific home. National and metro medians set the mood; the last 90 days of closed sales in the neighborhood set the price.

The live U.S. numbers below update on their own; the full set, every state included, is on the U.S. housing market statistics page.