Phoenix Real Estate Statistics: Average vs. Median Home Prices

Desert Harbor FishingMark Twain is credited with popularizing the phrase, “Lies, damned lies, and statistics”. Obviously,  he was aware how data can be manipulated, misleading and  needs to be understood in the proper context.  In real estate, we deal with statistics on a daily basis.  In an effort to understand trends, we encounter the terms “average sales price” and “median sales price”.  Both of them use the same set of data. Its just how you look at the data so it is useful to understand the difference between the two terms.

 

Median vs. Average Price in Real EstateCoral Point - The Falls waterfront

The calculations for average and median prices are fairly straight forward.

The median of a set of numbers is that number where half the numbers are lower and half the numbers are higher. When we’re considering real estate,  that means that the median is the price where half the homes are less expensive, and half are more expensive.

The average of a set of numbers is the total of those numbers divided by the number of items in that set.    For example:

Median  vs Average

For the data to the left let’s determine the median and average for these 11 houses.  The value or median where there are an equal number above and below is $210,000.

To calculate the average we add the prices of the 11 homes which gives a total of $3,385,000. Now divide this by 11 and the average house price is $307,727.

As you can see, the difference between the median and average is almost $100,000!  The distribution of the data is the key.  The median will keep the outliers on the extremes from overly influencing the  calculation.

Waterfront on Ocotillo Lakes with boatSo when you’re listening to someone talk about the median vs. the average price per square foot, it’s important to understand the different and how the distribution of the data can affect the outcome.

If you’re looking for that special home but need help finding it, go to send me listings and describe what you’re looking for and I’ll be glad to help.

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$695,000 :: 2020 E FREEPORT Lane, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 3,062 sq ft
Lot Size: 10,454 sq ft
Added: 06/25/18, Last Updated: 12/08/18
Property Type: Single Family
MLS Number: 5785216
Community: Regatta at Val Vista Lakes
Tract: Regatta at Val Vista Lakes
The price of this listing was last reduced on 12/8/2018 by 4%
Status: Active


Paver walk way leads to this beautiful waterfront home, completely remodeled and ready ** Enter to spacious living room and dining room ** Fireplace in family room with surround sound ** Gourmet kitchen with all new stainless steel appliances, granite counter tops, loads of storage and refrigerator will stay ** Master suite is kingsize with jacuzzi tub and separate shower, double sinks, gas fireplace and balcony with marble floors overlooking yard ** Large yard with pebble sheen swimming pool, separate jacuzzi, pomegranate, orange and lemon trees, loads of grassy play area, and boat dock ** There is so much to mention here and a few extras include shutters throughout, marble floors throughout, stone covered fireplaces and pillars outside, motorized chandelier can be lowered for cleaning,

Listed with Penfield Properties


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$720,000 :: 1826 E Cascade Drive, Gilbert AZ, 85234

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4 beds, 3 baths
Home size: 2,870 sq ft
Lot Size: 10,454 sq ft
Added: 11/30/18, Last Updated: 12/08/18
Property Type: Single Family
MLS Number: 5852673
Community: Val Vista Lakes Crystal Shores
Tract: Val Vista Lakes Crystal Shores
The price of this listing was last reduced on 12/8/2018 by 1%
Status: Active


Come experience waterfront living at Val Vista Lakes. Conveniently located to Dana Park and U.S. 60. This three bedroom with den/3 bath home is completely updated with tile floors, plush carpeting and granite counter tops. Balcony off master suite overlooking the lake. Take in all the breathtaking views Val Vista Lakes has to offer. See video and 3D tour links and be sure to visit the clubhouse to see all that is included in your low HOA fees, including tennis complex, indoor racquetball courts, cardio and weight training facilities, junior Olympic swimming pool and spa, banquet and meeting rooms, waterfalls and a tropical lagoon swimming pool with a sandy beach. Drive through the neighborhood to see the many sports parks and bicycle paths.

Listed with Homesmart


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$590,000 :: 1109 W PENINSULA Drive, Gilbert AZ, 85233

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3 beds, 2 baths
Home size: 2,613 sq ft
Lot Size: 9,583 sq ft
Added: 11/15/18, Last Updated: 11/29/18
Property Type: Single Family
MLS Number: 5847382
Community: WINDHAVEN LOT 1-65 TR A-C
Tract: WINDHAVEN LOT 1-65 TR A-C
The price of this listing was last reduced on 11/29/2018 by 2%
Status: Active


Spectacular waterfront Islands home in Gilbert is now on the market! This gorgeous 3 bed + Den, 2 bath home features a fabulous interior boasting vaulted ceilings, great room with tons of natural light, plantation shutters in all the right places, tile flooring throughout, den perfect for a game room, and cozy fireplace in family room. Gourmet kitchen is equipped with nice appliances, ample cabinets, granite countertops, island, and breakfast room. Spacious master suite has a lavish bath with dual sinks, soaking tub, shower with block glass, and backyard exit. Stunning backyard offers built-in BBQ, personal putting green, sparkling blue pool, private deck, and covered patio giving you a one of a kind lake view.

Listed with Dempsey Group Realty


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$1,775,000 :: 193 N SKI Court, Gilbert AZ, 85233

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6 beds, 7 baths
Home size: 6,700 sq ft
Lot Size: 20,037 sq ft
Added: 09/20/17, Last Updated: 11/28/18
Property Type: Single Family
MLS Number: 5662648
Community: CRYSTAL POINT ESTATES AMD LOT
Tract: CRYSTAL POINT ESTATES AMD LOT
The price of this listing was last reduced on 11/28/2018 by 1%
Status: Active


Beautiful Custom home on a private water ski lake. Water ski, tube, wakeboard, all out your back door. This home is the builders personal home. Custom in every way. Master Suite, plus office & guest bedroom all on the first floor. All bedrooms have their own full bathroom. Open great room with 21ft ceiling open wall of windows to the beautiful lake view. Granite counter tops, Top of the line stainless steel appliances, double ovens, warming draw, 6 burner Thermador Cook top, custom oak cabinets through out the home. Large center island with vegetable sink & eating area. Large covered patio with built in misters, built in BBQ & sink. Private boat dock with sink & small refrigerator. Large ski house to store tubes, wake boards, skis Large 5 car garage with built in cabinets, epoxy floor

Listed with The Hogan Group LLC


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$799,900 :: 1518 E TREASURE COVE Drive, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 3,323 sq ft
Lot Size: 17,424 sq ft
Added: 11/15/18, Last Updated: 11/16/18
Property Type: Single Family
MLS Number: 5847599
Community: WEST LAKE ESTATES LOT 1-40 TRACT A-C
Tract: WEST LAKE ESTATES LOT 1-40 TRACT A-C
Status: Active


Exquisite highly desirable custom waterfront home in prestigious West Lake Estates on a huge lot. 5 beds/3 baths. Beautiful chefs kitchen w/cherry cabinets, granite countertops, all stainless steel appliances, double convection ovens and fridge. Gorgeous travertine and cherry wood floors. Combination family/game rooms w/pool table, wine cellar and bar area for indoor entertaining. Custom columns and designer's touches everywhere. Master bed has balcony overlooking large backyard, lake and mountain views. Huge master bath w/jacuzzi. Fabulous resort backyard w/ heated pool, spa, travertine patio, custom fireplace and lush landscaping. 2 RV gates. Everything has been highly upgraded! Access to Val Vista Lake amenities: pools, beach, spa, lagoon, tennis, racketball, gym + clubhouse. MUST SEE!!

Listed with Arizona Oasis Realty


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$614,900 :: 826 S COPPER KEY Court, Gilbert AZ, 85233

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5 beds, 3.5 baths
Home size: 4,032 sq ft
Lot Size: 8,276 sq ft
Added: 11/15/18, Last Updated: 11/15/18
Property Type: Single Family
MLS Number: 5847112
Community: CATALINA BAY AT THE ISLANDS
Tract: CATALINA BAY AT THE ISLANDS
Status: Active


Blending relaxation and sophistication to create the ideal home! Masterful design and luxury are uniquely embodied in this 5 bedroom 3.5 bath 2 story home with 4032 SF! Travertine walkway leads to the front door, and upon entering your eye catches the sweeping grand staircase ahead and the expansive open floor concept. The incredible island kitchen features dark cabinetry, plant shelving, pantry, white appliances, breakfast bar, and recessed lighting. This home includes its very own movie room, with a 110 inch projection screen, surround sound speaker system, custom Venetian plaster walls, LED lighting, and ramp access to each tiered level. Please see more remarks for more info.

Listed with Revelation Real Estate


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$699,900 :: 2111 E CLIPPER Lane, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 3,025 sq ft
Lot Size: 10,018 sq ft
Added: 09/17/18, Last Updated: 11/06/18
Property Type: Single Family
MLS Number: 5821409
Community: Regatta at Val Vista Lakes
Tract: Regatta at Val Vista Lakes
The price of this listing was last reduced on 11/6/2018 by 3%
Status: Active


Exquisite, Lake Front home in The gated community of The Regatta in Val Vista Lakes, The grand staircase greets you as you enter the large cast front door, The Kitchen boasts Granite, stainless, breakfast nook, breakfast bar & an oversized walk-in pantry, the kitchen overlooks a large great room, perfect for entertaining & family, The beautiful backyard speaks for itself, it's a masterpiece with a gazebo, firepit, grassy area, sparkling pool with water feature & of course an incredible view of the lake with your own dock, the Luxurious Master Suite is a sanctuary with tile shower & surrounds & marble vanities, the private upstairs balcony has a stunning view of the lake, it's perfect for that morning cup of coffee or just relaxing & reading,

Listed with United Brokers Group


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$895,000 :: 1124 N PEPPERTREE Drive, Gilbert AZ, 85234

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4 beds, 3 baths
Home size: 3,375 sq ft
Lot Size: 11,325 sq ft
Added: 11/01/18, Last Updated: 11/02/18
Property Type: Single Family
MLS Number: 5841524
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
Status: Active


WOW! This beautiful custom tuscan style home comes COMPLETELY decked out as an entertainer's paradise. Boasting the finest views in all of Val Vista Lakes. Take a cruise in your boat along the seven miles of shoreline, with full access to the Val Vista Lakes Clubhouse, one of the finest community centers in the East Valley. With the access of the lake and views of gorgeous sunsets, you will find yourself right at home.Some features include: Recently updated custom walnut cabinets, large travertine flooring, granite countertops, premium carpeting, Stainless steel appliances, pullout murphy beds in the office to double as a guest room, boat dock that runs the entire length of the home, shaded doggie play-area, full outdoor living space and grill, and so much more.

Listed with HomeSmart


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$1,845,000 :: 378 N SHORE Lane, Gilbert AZ, 85233

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6 beds, 6 baths
Home size: 7,120 sq ft
Lot Size: 20,037 sq ft
Added: 11/01/18, Last Updated: 11/01/18
Property Type: Single Family
MLS Number: 5840948
Community: CRYSTAL POINT ESTATES AMD LOT
Tract: CRYSTAL POINT ESTATES AMD LOT
Status: Active


Resort Style Living! Fabulous Custom Home on Private water ski lake! 6 BR,4 Full & 2 half Baths. Luxury custom soft contemporary home featuring 164' of Waterfront living. OWNED SOLAR SYSTEM WITH CURRENT ELECTRIC AT ONLY $225/MONTH! Fabulous formal living room w/wall of windows w/lake views greats you upon entry. Exquisite master suite on main level w/sitting room & fireplace. Huge master bath w/his & hers vanities, jetted tub, huge walk in snail shower, & a large custom built closet, every ladies dream! 3 other bedrooms and 2 1/2 baths on main level.Chef's kitchen w/new top of the line stainless steel appliances, double ovens, induction cook top, subzero refrigerator, beverage refrigerator drawers,

Listed with Revelation Real Estate


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$535,000 :: 599 N ACACIA Drive, Gilbert AZ, 85233

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4 beds, 3 baths
Home size: 2,913 sq ft
Lot Size: 8,712 sq ft
Added: 05/11/18, Last Updated: 10/19/18
Property Type: Single Family
MLS Number: 5764708
Community: PLAYA DEL REY
Tract: PLAYA DEL REY
The price of this listing was last reduced on 10/19/2018 by 3%
Status: Active


11/10 New paint inside & cabinets redone white pics soon! Spectacular lake front designer home 4 bed, den could 5th bedrm, 3 bath property! Exquisite curb appeal, 3 car garage w/built in cabinets, RV gate, custom entry invites you to step inside. Interior boasts huge vaulted ceilings, 2-way fireplace, formal living & dining rooms, den perfect for an office, plantation shutters. Stainless steel appliances, staggered cabinets, pantry, solid surface countertops, and island with breakfast bar make the kitchen a cook's dream. Spacious master suite has bay window, ample walk-trough closets, luxurious bath, jetted tub, step-in shower, and his/her sinks. The stunning backyard is the perfect oasis with covered patio, sparkling blue pool, paddle boat lake with paddle boat and more.

Listed with Revelation Real Estate


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


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