Logarithmically normal distribution of prices for real estate objects

The article gives the benchmark analysis of average market price based on assumption of normal and logarithmically normal distribution of prices on the residential real estate market. Given in this work analysis showed that logarithmically normal model describes real distribution of real estate market supply prices more accurately and the supply price which is generally a market price measure corresponds to the most probable modal value. The authors offered an algorithm of calculation of discount for negotiations which is necessary for adjustment of supply market prices when no information on real transaction prices is available.