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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$1,999,999 :: 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: 03/11/17, Last Updated: 08/17/17
Property Type: Single Family
MLS Number: 5573801
Community: CRYSTAL POINT ESTATES AMD LOT
Tract: CRYSTAL POINT ESTATES AMD LOT
The price of this listing was last reduced on 8/3/2017 by 7%
Status: Active


Resort Style Living! Fabulous Custom Home on Private water ski lake! 6 BR,4 Full & 2 half Baths. Featuring 164' of Waterfront living. Recently remodeled! Seller spared no expense on the remodel of this soft contemporary home! Owned Solar system for low electric bills. 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/!


$545,000 :: 1002 W NAUTILUS Drive, Gilbert AZ, 85233

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4 beds, 3 baths
Home size: 2,719 sq ft
Lot Size: 9,147 sq ft
Added: 03/30/17, Last Updated: 08/15/17
Property Type: Single Family
MLS Number: 5582795
Community: CATALINA BAY AT THE ISLANDS LT
Tract: CATALINA BAY AT THE ISLANDS LT
The price of this listing was last reduced on 7/20/2017 by 3%
Status: Conditional


STUNNING GILBERT LAKEFRONT home in The Islands! You'll love the tropical backyard overlooking the lake (perfect for entertaining or relaxing). Original owners lovingly remodeled every inch inside & planted every flowering shrub, tree and flower outside. Spacious master bedroom w sitting room (potential 5th bedroom). Luxurious master bath w walk-in travertine shower and soaking tub. Convenient bed & bath downstairs. Over $120k in updates: kitchen w granite & stainless appl., gorgeous updated bathrooms, flooring, AC units, water softener & heater, int/ext paint, windows, doors & more. Beautiful backyard with mature trees, cozy sitting areas, plus extended covered patio. Enjoy holiday boat parade or boat to Islands park for all community events! Meticulously maintained by original owners!

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/!


$849,500 :: 1901 E CYPRESS TREE Drive, Gilbert AZ, 85234

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5 beds, 4 baths
Home size: 4,645 sq ft
Lot Size: 11,325 sq ft
Added: 07/05/17, Last Updated: 08/12/17
Property Type: Single Family
MLS Number: 5629011
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
The price of this listing was last reduced on 8/1/2017 by 5%
Status: Active


Gated Lakeside Subdivision Home in Val Vista Lakes with a fully finished Basement- 4,645 sqft, 5 bedrooms, 4 1/2 bathrooms, huge office with a separate entry. Second story features 2 of the bedrooms plus the Master Suite that offers an additional sitting/TV room and a workout room with a separate entry into the Master Bath. The main level of this beautiful home boasts the elegant Living Room with a 2-way, gas fireplace; the Kitchen with All New Stainless Appliances; the Breakfast Room; a closed in Patio Area with access to the Living Room and the Dining Area; a half bathroom; 1 Bedroom with a private 3/4 bathroom; and the Laundry Room. Fully Finished Basement has 1 bedroom, 3/4 Bathroom, a private sitting room and an open area with a lovely custom bar equipped with a sink, refrigerator and

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/!


$614,900 :: 2019 E CATAMARAN Drive, Gilbert AZ, 85234

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4 beds, 3 baths
Home size: 3,650 sq ft
Lot Size: 9,147 sq ft
Added: 03/04/17, Last Updated: 08/07/17
Property Type: Single Family
MLS Number: 5570145
Community: Val Vista Lakes
Tract: Val Vista Lakes
Status: Active


Just reduced! Take a look and make an offer.Beautiful Val Vista Lakes home with 4 bedrooms, den and 3 full baths right on the lake. Formal living and dining rooms. Kitchen with new stainless appliances and granite countertops and breakfast area facing the lake. Downstairs bedroom, den, and full bath.Beautiful wide stairway leading to the upstairs. Master bedroom has lots of windows and a balcony overlooking the lake. Large private bath with tub and shower. Walk-In closet.2 additional bedrooms upstairs and Jack-and-Jill bath with 2 sinks. Fireplaces in the living room, family room and master bedroom. New carpet. Epoxy flooring and cabinets in the 3 car garage. All colors neutral. Gated community with many amenities, close to Route 60 and loads of shopping. This home is stunning. Must se

Listed with Multi Property Management 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/!


$547,700 :: 2003 E CATAMARAN Drive, Gilbert AZ, 85234

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3 beds, 3 baths
Home size: 2,970 sq ft
Lot Size: 12,196 sq ft
Added: 07/26/17, Last Updated: 07/27/17
Property Type: Single Family
MLS Number: 5638286
Community: REGATTA AT VAL VISTA LAKES AMD
Tract: REGATTA AT VAL VISTA LAKES AMD
Status: Active


Come see this custom built 3 bedroom, 3+ baths, 2970 square foot home with absolutely stunning views of the lake. You have your very own shore line so you can build a boat dock and cruise the lake on a moon lit night. The home was built by the current owner's husband and they are the only owners the home has seen. The home has formal living room with a fireplace and dining room, open eat in kitchen with granite counters, an office/den, and a lower level master bedroom. The master bath has dual sinks, huge walk in closet and a separate tub & shower. Upstairs there is a family room with another covered patio to enjoy more views of the lake, a bedroom with a full bath. Outside there is a separate guest quarters with a full bath. All this comes with the amenities of Val Vista Lakes!!!!

Listed with West USA 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/!


$955,900 :: 1410 E CORAL COVE Drive, Gilbert AZ, 85234

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4 beds, 4 baths
Home size: 5,190 sq ft
Lot Size: 15,681 sq ft
Added: 01/28/17, Last Updated: 07/21/17
Property Type: Single Family
MLS Number: 5553316
Community: WEST LAKE ESTATES LOT 1-40 TRA
Tract: WEST LAKE ESTATES LOT 1-40 TRA
The price of this listing was last reduced on 5/13/2017 by 3%
Status: Active


Your Grand Mediterranean Estate on the water! Imported Inlaid Italian Marble provides a stunning entry that takes your breath away. Dramatic architectural features, & superior new finishes abound throughout the home! Main level features a guest bedroom suite, & walk-in closet. Also, there is grand library/office. The lavish Master Suite has beautiful hardwood floors, sitting area, dual-sided fireplace, three large walk-in closets & picture perfect lake views. The views never stop, the lake can be seen from the elegant living, dining room, large kitchen & family room. Upstairs, are 2 large bedroom suites; one with private bath and walk-in closet. Sit fireside next to the heated pool & spa & entertain on your outdoor covered patio. And so much more! This home is a must see!

Listed with TreeHouse 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/!


$1,395,000 :: 1825 E Bay Tree Court, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 5,179 sq ft
Lot Size: 22,215 sq ft
Added: 10/21/16, Last Updated: 07/14/17
Property Type: Single Family
MLS Number: 5515047
Community: Lakeside at Val Vista Lakes
Tract: Lakeside at Val Vista Lakes
The price of this listing was last reduced on 5/31/2017 by 4%
Status: Active


Spectacular custom waterfront home located in the private gated Lakeside in Val Vista Lakes. This home has it all from the moment you enter the driveway. The curb appeal is only the beginning. You will enjoy the fabulous views from every room!! 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, pool and spa. Master bedroom & additional 2nd bedroom are on the mail level. Large loft area upstairs with an exercise room and office. You won't be able to get enough of the outdoor living. In the evenings enjoy taking the boat out or, relaxing in the hot tub or sitting by the firepit enjoying family & Friends. This is a MUST SEE home!

Listed with West USA 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/!


$1,150,000 :: 1506 E TREASURE COVE Drive, Gilbert AZ, 85234

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5 beds, 4 baths
Home size: 5,706 sq ft
Lot Size: 17,859 sq ft
Added: 06/06/17, Last Updated: 07/07/17
Property Type: Single Family
MLS Number: 5615885
Community: VAL VISTA LAKES - WEST LAKE ES
Tract: VAL VISTA LAKES - WEST LAKE ES
The price of this listing was last reduced on 6/6/2017 by 4%
Status: Active


LAKEFRONT HOME AT THE PRESTIGOUS WEST LAKE ESTATES*THIS HOME RADIATES ELEGANCE AT IT'S FINEST FROM THE MOMENT YOU DRIVE UP*TRAVERTINE DRIVEWAY WITH FRONT MARBLE MEDALION AND LARGE WROUGHT IRON GATE FRONT DOORS*5 BEDROOMS W/ HOME OFFICE AND EXERCISE ROOM*BASEMENT*GRAND ENTRANCE INTO FOYER WITH VIEWS TO THE LAKE AND LARGE NEGATIVE EDGE DIVING POOL WITH FOUNTAINS AND SPA*RESORT STYLE LIVING WITH BUILT IN BARBECUE*TURF GRASS*BOAT AT DOCK CONVEYS WITH YOUR NEW HOME*LARGE KITCHEN WITH GE MONOGRAM DUAL OVENS*5 BURNER GAS STOVE*SUBZERO REFRIGERATOR*TONS OF CUSTOM CABINETS/STORAGE WITH EAT IN KITHCEN AND VIEWS OF WATERFRONT*GRANITE COUNTERTOPS*LARGE WALK-IN PANTRY*LARGE UTILITY ROOM WITH STORAGE/CABINETS AND SINK*TRAVERTINE FLOORING T/O*LARGE FAMILY ROOM WITH FIREPLACE FLOOR TO CEILING AND

Listed with Elite Desert 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/!


$749,500 :: 1341 N MISSION COVE Lane, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 3,310 sq ft
Lot Size: 10,018 sq ft
Added: 06/29/17, Last Updated: 06/29/17
Property Type: Single Family
MLS Number: 5626139
Community: MISSION BAY ESTS AT VAL VISTA
Tract: MISSION BAY ESTS AT VAL VISTA
Status: Active


ONE OF A KIND STUNNING LAKEFRONT CUSTOM HOME! Gorgeous UPGRADES & REMODELING of $250,000 in this 5 Bedroom, 3.5 Bath w/Cathedral Ceilings; Main Floor Master Bedroom/on-suite bath, Family Room, Formal Living Room, Formal Dining Room,+Guest bath and a Custom Gourmet Eat-In Kitchen; Upstairs 4 bedrooms, 2 baths, Loft and Dedicated Home Theatre Room. 3+ Car Garage. Spectacular lot that provides unparalleled views of the lake w/upstairs bedroom & patio deck providing both lake and mountain views. Detailed list of improvements in documents section: Remodeled top to bottom; Dramatic 10'x4' Wrought Iron Front Door; Beautiful Low E Milgard dual pane picture windows; Two Convection Ovens w/Dual Fuel Gas 6 burner cooktop range; Custom Karmen Real Cherry Wood Cabinets;Two Indoor Gas Fireplaces & more!

Listed with West USA 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/!


$890,000 :: 1414 E CORAL COVE Drive, Gilbert AZ, 85234

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4 beds, 3 baths
Home size: 4,055 sq ft
Lot Size: 15,245 sq ft
Added: 04/13/17, Last Updated: 06/19/17
Property Type: Single Family
MLS Number: 5590232
Community: WEST LAKE ESTATES LOT 1-40 TRA
Tract: WEST LAKE ESTATES LOT 1-40 TRA
The price of this listing was last reduced on 4/13/2017 by 5%
Status: Active


Exquisite highly desirable single level custom waterfront home in West Lake Estates*Beautiful entrance with gorgeous medallion flooring*Formal dining and living room*Coffered ceilings*Home office with plantation shutters*Large master suite with separate outdoor exit*2 sided gas fireplace to updated master bathroom with marble countertops, jetted tub, stone shower and huge master closet*Large custom kitchen with dual ovens, dual dishwashers, kitchen island, pull out shelves and walk in pantry*family room with stone floor to ceiling fireplace and peaceful views of the lake*Split floor*

Listed with Elite Desert 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/!