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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$675,000 :: 1808 E CASCADE Drive, Gilbert AZ, 85234

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4 beds, 2.5 baths
Home size: 2,501 sq ft
Lot Size: 13,503 sq ft
Added: 02/07/19, Last Updated: 02/07/19
Property Type: Single Family
MLS Number: 5880034
Community: CRYSTAL SHORES AMD LOT 1-82 TR A-I
Tract: CRYSTAL SHORES AMD LOT 1-82 TR A-I
Status: Active


WOW! AWESOME HOME! Welcome to this remarkable, waterfront Gilbert home located in the highly desirable Val Vista Lakes community! This gorgeous home offers over $60,000 in upgrades for you and your guests to enjoy. The beautiful, open kitchen includes stainless steel appliances, high end granite countertops, dark beechwood cabinets, a wine cooler and a huge kitchen island with plenty of counter space for meal prep or entertaining. Stay warm by the cozy fireplace in the family room on those chilly Arizona nights and enjoy the 180 degree views of the lake! This open and split floor concept includes cherry hardwood floors throughout the main living spaces and the entire home has been recently painted inside and out.

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/!


$799,000 :: 1717 E Coco Palm Court, Gilbert AZ, 85234

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5 beds, 4 baths
Home size: 4,052 sq ft
Lot Size: 12,196 sq ft
Added: 02/01/19, Last Updated: 02/01/19
Property Type: Single Family
MLS Number: 5876441
Community: VAL VISTA LAKES
Tract: VAL VISTA LAKES
Status: Active


Welcome to your DREAM HOME with a basement! Gorgeous 5 bed / 4 bath, 3 car extended depth garage and side double gate!! This lakeside home in the HIGHLY DESIRABLE Val Vista Lakes, GATED ''Lakeside'' community. New exterior and interior paint, carpet, most of the interior hardware and light fixtures and many other various trim work!!! Home features a wide open floor plan, easy clean-up tile flooring and beautiful finishes throughout. Outstanding chef's kitchen fully equipped with stainless steel appliances, granite countertops and tons of wood cabinet storage. LARGE living room has stunning wood flooring, custom stone fireplace, built-in entertainment center and double doors to backyard access. Backyard has grassy area, nice patio areas and a custom boat dock!!! This is a stunning home!!

Listed with Results 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/!


$749,000 :: 1834 E Coral Tree Drive, Gilbert AZ, 85234

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4 beds, 2.5 baths
Home size: 3,085 sq ft
Lot Size: 13,939 sq ft
Added: 10/10/18, Last Updated: 01/29/19
Property Type: Single Family
MLS Number: 5831466
Community: Val Vista Lakes
Tract: Val Vista Lakes
The price of this listing was last reduced on 1/29/2019 by 1%
Status: Active


Single story home nestled behind the Lakeside gates in Val Vista Lakes. Situated on a 13,500+ sq ft lot with a preferred North / South exposure. Located on the highly desirable main lake for long boat rides! Floor plan is elegant and ideal for entertaining yet comfortable for everyday living. Upon entering the home you are immediately drawn to the lake views providing that WOW factor! Formal living room and dining room have large windows and French doors providing natural abundant light. Kitchen opens up nicely to the family room! Impressive views of the lake can be seen from the entire back of the home. Outdoor living is abundant here! Covered patio over looks the negative edge pool and spa, built in barbecue, grassy areas, large side yards, mature citrus trees and boat dock! Split floor

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/!


$1,750,000 :: 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: 01/29/19
Property Type: Single Family
MLS Number: 5840948
Community: CRYSTAL POINT ESTATES AMD LOT 1-20 TR A-H
Tract: CRYSTAL POINT ESTATES AMD LOT 1-20 TR A-H
The price of this listing was last reduced on 1/29/2019 by 5%
Status: Active


Exquisite Custom Home on Private water ski lake! Water ski, wake board, tubing or paddle board from you own back yard! 6 BR,4 Full & 2 half Baths. Luxury custom 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/!


$865,000 :: 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: 01/26/19, Last Updated: 01/26/19
Property Type: Single Family
MLS Number: 5873941
Community: WEST LAKE ESTATES, Val Vista Lakes
Tract: WEST LAKE ESTATES, Val Vista Lakes
Status: Active


Prestigious Executive Single Level in Val Vista Lakes gated West Lake Estates! Updated Waterfront Custom has 4 bedrooms Plus an Office off Foyer & 4th Bedroom/Guest Suite is Split! Amazing Oversized Kitchen w/Dual Ovens, Dual Dishwashers, Center Island, Pull-out Shelves & Walk-in Pantry - tons of Storage Space throughout! Fabulous Covered Pato for Outdoor Entertaining Overlooking the Lake! Huge Master Retreat w/Sitting Room, See-through Fireplace shared with Master Bath, Jetted Tub, Stone Shower, Marble Countertops & Enormous Closet w/10' Ceilings and Loads of Custom Built-ins! Formal Dining with Marble Flooring & Private Sitting Room/Patio. Private Boat Dock & all Val Vista Lakes Clubhouse Amenities - $10 million clubhouse, heated Jr. Olympic pool, Sandy Beach, Tennis Club & Raquetball!

Listed with Keller Williams Integrity First


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


$548,000 :: 432 S BAY SHORE Boulevard, Gilbert AZ, 85233

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4 beds, 2.5 baths
Home size: 2,521 sq ft
Lot Size: 7,405 sq ft
Added: 05/24/18, Last Updated: 01/18/19
Property Type: Single Family
MLS Number: 5770856
Community: HARBOR POINT LOT 1-78 LAKE EASMT
Tract: HARBOR POINT LOT 1-78 LAKE EASMT
The price of this listing was last reduced on 1/18/2019 by 2%
Status: Active


Beautiful remodel on the water in the Islands! New wood floors greet you as you open the door to the living and dining areas. It then flows into the kitchen & greatroom which overlook the sparkling pool, lake & grassy backyard. The kitchen has stainless appliances & plenty of counter space including a perfect area for a coffee bar! Upstairs is the master with a balcony with views of the lake. The master has a large ensuite bathroom and large walk in closet. The secondary bedrooms are also upstairs and are all a generous size. The second full bath is adjacent to the other bedrooms. The home also has a 3 car garage! New carpet, new wood floor, new lighting, new kitchen design, newly resurfaced pool, freshly painted inside and out and much more! This home is move in ready!

Listed with Coldwell Banker Residential Brokerage


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


$1,059,000 :: 285 N Ski Court, Gilbert AZ, 85233

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5 beds, 4 baths
Home size: 3,678 sq ft
Lot Size: 20,037 sq ft
Added: 08/29/18, Last Updated: 01/18/19
Property Type: Single Family
MLS Number: 5813254
Community: Crystal Point Estates
Tract: Crystal Point Estates
The price of this listing was last reduced on 1/18/2019 by 4%
Status: Active


Arizona Waterfront Living, with a newly Adjusted Price! Beautiful Custom Home in sought after Crystal Point Estates , Gilbert Az. Live Arizona your way in your waterfront custom home with it's own sandy beach and boating!! If you are looking for stunning Arizona Lakeviews and a Waterfront Lifestyle you can enjoy every single day,this is the Community for you!! Boating on the Lake includes a regulation slalom course, jump ramp and trick skiing, tubing, paddle boating & more.This beautiful property offers 5 BR, 4 BA, 3678 sf builder,almost a half acre lot at 19,985sf and approx. 164 feet of water frontage. Formal Living Room touts stunning views upon entry into this lovely property. -click More-

Listed with Coldwell Banker Residential Brokerage


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


$1,050,000 :: 1422 W COMMERCE Avenue, Gilbert AZ, 85233

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5 beds, 5 baths
Home size: 6,298 sq ft
Lot Size: 10,018 sq ft
Added: 01/16/19, Last Updated: 01/17/19
Property Type: Single Family
MLS Number: 5868778
Community: PLAYA DEL REY AMENDED
Tract: PLAYA DEL REY AMENDED
Status: Active


Luxury Waterski Community in the heart of Gilbert! The rarest combination of Location AND Lifestyle! This home has been designed and built with Lifestyle, Family, and Thoughtful Functionality in mind. 5 Beds, 5 baths, Sound-dampened Office, 2 full kitchens, 3 laundry rooms, 4-car air-conditioned garage, loads of storage, and, of course a corner lot with north-facing lake view with private dock and beach front on one of only 3 waterski lakes in the East Valley. The ski lake has a 5 buoy course for competition training or learning. You won't find another one like this! When you come in from activities on the lake, you find a 17-ft kitchen island highlighting a fantastic kitchen/family room.

Listed with The Transition Group, L.L.C.


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


$794,900 :: 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: 01/15/19
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
The price of this listing was last reduced on 1/15/2019 by 1%
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/!


$575,000 :: 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: 12/30/18
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 12/30/2018 by 3%
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/!


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