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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$674,900 :: 1236 W EDGEWATER Drive, Gilbert AZ, 85233

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5 beds, 3.5 baths
Home size: 4,242 sq ft
Lot Size: 9,148 sq ft
Added: 02/22/19, Last Updated: 09/21/19
Property Type: Single Family
MLS Number: 5887260
Community: CATALINA BAY AT THE ISLANDS UNIT 4
Tract: CATALINA BAY AT THE ISLANDS UNIT 4
The price of this listing was last reduced on 8/8/2019 by 2%
Status: Active


New Paint through the entire house! Seller is also providing a One Year Ultimate Warranty on the home and pool. Pre-purchased and will be transferred to the new owner! This home sits at the center of all five ''fingers'' that make up Lake 2! It's on the most coveted/primary lot on the water. This Beautiful, Resort-Style Living Home has views from every window. 4200 sq ft, 5 bedrooms and a built-out office/man cave with a separate entrance. The 3 car garage has fresh epoxy floors. The master closet is built-out with sophisticated shelving. Most ceilings boast crown molding. You name it - this house offers it!

Listed with Realty ONE 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/!


$640,000 :: 2020 E CATAMARAN Drive, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 3,018 sq ft
Lot Size: 10,455 sq ft
Added: 06/27/19, Last Updated: 09/20/19
Property Type: Single Family
MLS Number: 5945535
Community: REGATTA AT VAL VISTA LAKES AMD LOT 1-108
Tract: REGATTA AT VAL VISTA LAKES AMD LOT 1-108
The price of this listing was last reduced on 9/1/2019 by 1%
Status: Active


Back on Market!! Beautifully updated Val Vista Lakes waterfront home in the gated Regatta community. This 5 bedroom, 3 full bath home on a cul-de sac street offers a gorgeous interior, updated throughout in 2017. Vaulted ceilings, wood look tile & spacious layout greets you as you walk in the front door. Living rm. features a fireplace & lots of natural light. Dining room w/ French doors to enjoy the additional private patio. Kitchen is open to the family rm, white cabinetry, granite counters, b-fast bar, lg walk-in pantry, stainless appliances & lake views! Mstr bedroom conveniently located downstairs w/ separate entrance to patio. Mstr bath has all the right finishes w/ a freestanding tub, walk-in shower & dual sink vanity. Second bedroom downstairs w/ full bath, could be used as den/

Listed with DPR Realty 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/!


$654,900 :: 2036 E Clipper Lane, Gilbert AZ, 85234

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4 beds, 2 baths
Home size: 2,493 sq ft
Lot Size: 10,019 sq ft
Added: 09/19/19, Last Updated: 09/20/19
Property Type: Single Family
MLS Number: 5980928
Community: Val Vista Lakes
Tract: Val Vista Lakes
Status: Active


Well this is a super nice home in a highly desirable East Valley lake community and its waiting for you, to call it HOME! Here we go, 4 bedrooms, 2 bathrooms with just under 2,500 square feet. Nice vaulted ceilings in the Living and Family Room. Large great room concept flows nicely into Family room with a massive Kitchen Island, perfect to use a breakfast bar-plus you have a spot for your Eat in Kitchen and still have a formal dining spot. Upgraded flooring in the entire house from tile to carpet. The Upgrades over the past few years include a New Roof (2015) New AC/Furnace in 2014, all 3 bedrooms had new carpet installed in 2014 as well. Master has tile flooring, bay window and gorgeous lake views. The community, in case you've never seen it, features a Million Dollar Clubhouse which

Listed with Keller Williams Realty East Valley


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


$859,000 :: 1750 E COCO PALM Court, Gilbert AZ, 85234

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4 beds, 3 baths
Home size: 3,421 sq ft
Lot Size: 12,197 sq ft
Added: 07/17/19, Last Updated: 09/18/19
Property Type: Single Family
MLS Number: 5953415
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
Status: Conditional


Single Level Custom 4 bed, 3 bath, waterfront home with spectacular panoramic lake views in gated community. Huge kitchen-abundant cabinetry plus pantry with wonderful view of heated negative-edge pool, spa, and lake. Open Great Room has 18'ceiling, sunken wet bar & fridge. Beautiful, professionally designed, stained-glass front entry door & Travertine tile entryway. Unique 3 Dolphin water feature at pool. Monitor kids pool activity with a security camera system. New redwood deck on the boat dock. New AC evaporators using 410A coolant. New water heater and water softener. Instant hot water loop and pumps. New exterior paint, carpet and marble tile in master bath and Jack & Jill bath. Oversized extended garage with built in cabinets. Approx 725 sf patio under roof.

Listed with Realty ONE 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/!


$755,000 :: 1455 W HEATHER Avenue, Gilbert AZ, 85233

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5 beds, 4 baths
Home size: 4,561 sq ft
Lot Size: 10,019 sq ft
Added: 07/05/19, Last Updated: 09/17/19
Property Type: Single Family
MLS Number: 5944062
Community: PLAYA DEL REY ESTATES
Tract: PLAYA DEL REY ESTATES
The price of this listing was last reduced on 9/17/2019 by 2%
Status: Active


Location is Everything! Direct Lake Access with Rare Private Covered Boat Slip and Lift. Wakeboard, Jet Ski and Kayak from Your Own Backyard in this Private Recreational Lake Community. Interior boasts spacious, light-filled rooms, wood plank flooring and beautiful South facing lake views. Home has been updated to include newer appliances, A/C, interior and exterior paint, Lutron Caseta smart home lighting system and more. Massive master suite opens to 450 square foot deck overlooking the lake. Split floor plan with multiple living spaces offer convenient options for guests and multi-generational living-3 bedrooms and 2 full baths downstairs plus large home office. Add the ultimate media and game room if desired! Expand the outdoor living space w/lakeside dock if desired.

Listed with Platinum Living 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/!


$849,900 :: 532 N ACACIA Drive, Gilbert AZ, 85233

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5 beds, 4 baths
Home size: 4,063 sq ft
Lot Size: 11,326 sq ft
Added: 09/16/19, Last Updated: 09/16/19
Property Type: Single Family
MLS Number: 5979288
Community: PLAYA DEL REY AMENDED
Tract: PLAYA DEL REY AMENDED
Status: Active


Incredible remodeled Waterfront Home w/covered patio, refreshing pool, spa, synthetic grass, private balcony/deck, and amazing views of the lake. Enjoy water skiing, jet skiing, and swimming! Dramatic soaring ceilings, sweeping stairway to second level, travertine floor, soothing interior palette, upgraded recessed lighting/ceiling fans, and Architectural details throughout. Decorative columns, arched windows, wet bar with tile, French Doors to patio, hardwood floor, and stacked stone fireplace. Gorgeous gourmet kitchen features x-large center island, granite counters, travertine backsplash, SS appliances, and plethora of upgraded wood cabinetry. Fantastic loft area with endless possibilities. New paver driveway, iron gates, and cement RV parking.

Listed with Realty ONE 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/!


$630,000 :: 2119 E Clipper Lane, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 2,810 sq ft
Lot Size: 10,019 sq ft
Added: 06/27/19, Last Updated: 09/12/19
Property Type: Single Family
MLS Number: 5945164
Community: REGATTA AT VAL VISTA LAKES
Tract: REGATTA AT VAL VISTA LAKES
The price of this listing was last reduced on 9/12/2019 by 1%
Status: Active


Waterfront living*Single level* Many upgrades/recent improvements including: New roof underlayment plus sky lights; Bamboo wood flooring; newer carpet; updated cabinets; no salt H2o softener; stainless appliances; slab granite counter tops; plantation shutters; high efficiency A/C; remodeled MBR shower. Two fireplaces, one outside on patio next to in ground hot tub/spa. Boat dock! 3rd garage bay was converted to living space with extra insulation plus heated/cooled & Included in square footage. It can be converted back. Prestigious Val Vista Lakes resort living w/$10 Million Clubhouse, four lakes, junior Olympic heated pool, Jacuzzi, sandy beach entry lagoon, lighted tennis courts, racquetball, waterfalls, community activities, fishing, boating & workout facility w/cardio & weight rooms!

Listed with Choice One 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/!


$999,500 :: 1422 W COMMERCE Avenue, Gilbert AZ, 85233

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5 beds, 5 baths
Home size: 6,298 sq ft
Lot Size: 10,019 sq ft
Added: 04/12/19, Last Updated: 08/29/19
Property Type: Single Family
MLS Number: 5910662
Community: PLAYA DEL REY AMENDED
Tract: PLAYA DEL REY AMENDED
The price of this listing was last reduced on 7/1/2019 by 5%
Status: Active


Do you love skiing & lake life? Would you like to be able to ski, wakeboard, jet-ski or paddle board every day of the year? If so, we have the PERFECT LAKEFRONT PROPERTY for you! This 5 bed (plus loft) / 5 bath two-story home w/ NEXT GEN SUITE is in the private lake community of Play del Ray on a crystal blue lake w/ a 1/2 mile loop which allows all types of motorized boats & jet skis, as well as swimming. The backyard/dock has brand new, heat resistant deck (no burning feet!), boat dock w/ motorized lift, crank shade structure, fully organized ''gear wall'' w/ racks, 2 outside heated showers, water fountain, sandbox (with auto water filler) & natural gas line for your BBQ. The side storage area is HUGE & can fit multiple vehicles, off-road ''toys'' and/or a RV.

Listed with Rachael Richards 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/!


$925,000 :: 1709 E COCO PALM Court, Gilbert AZ, 85234

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5 beds, 4 baths
Home size: 4,945 sq ft
Lot Size: 13,068 sq ft
Added: 07/13/19, Last Updated: 07/29/19
Property Type: Single Family
MLS Number: 5951956
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
Status: Active


Beautiful CUSTOM BUILD class R5 lakefront property in the sought after gated Lakeside @ Val Vista Lakes. This superb durable and well insulated property was structured in 2'' x 8'' studs with many luxury add-ons. One of the best lake views in the Val Vista Lakes. East facing backyard ensures amazing sunrises and cool afternoons with heated edgeless pool and spa in the spacious backyard oasis. Expansive master bedroom and balcony overlooks backyard and amazing lake views. The interior features: a formal living room and dining, spacious gourmet kitchen, and family room that opens to the beautiful backyard and sparkling blue water of the lake. Step-up ceilings, NEW Kitchen-Aid 48'' Double Door fridge, NEW Kitchen Countertops, like-New carpet, central vacuum, NEW Pool & Spa heater and more ..

Listed with Arizona United 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/!


$599,000 :: 4722 S GRISWOLD Street, Gilbert AZ, 85297

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6 beds, 4.5 baths
Home size: 3,753 sq ft
Lot Size: 10,890 sq ft
Added: 07/16/19, Last Updated: 07/17/19
Property Type: Single Family
MLS Number: 5953142
Community: LAYTON LAKES PARCEL 1 2ND AMD
Tract: LAYTON LAKES PARCEL 1 2ND AMD
Status: Active


**WATERFRONT LOT WITH ONE OF THE BEST VIEWS IN ALL OF LAYTON LAKES!**MAIN LEVEL OF HOME HAS GUEST ROOM W/FULL BATH, FORMAL LIVING ROOM, FORMAL DINING, POWDER ROOM,GOURMET KITCHEN, PLUS A SEPARATE ASIAN KITCHEN; SPACIOUS FAMILY ROOM AND BREAKFAST ROOM WITH STUNNING WATER VIEWS**UPSTAIRS IS HUGE MASTER WITH HIS AND HERS WALK-IN CLOSETS, TWO SECONDARY BRS W/ JACK N JILL BATH AND TEEN SUITE W/PRIVATE BATH **OUTSIDE IS AN ENTERTAINER'S DREAM**TOP OF LINE SUN SHADES THROUGH OUT OF HOUSE TO PROVIDE XIMUM PRIVACY AND ENERGY EFFICIENCY** SO MUCH MORE, COME SEE IT TODAY!!!

Listed with Gold Trust 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/!


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