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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$599,000 :: 1426 W EMERALD KEY Court, Gilbert AZ, 85233

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3 beds, 2 baths
Home size: 2,522 sq ft
Lot Size: 11,326 sq ft
Added: 12/13/19, Last Updated: 12/13/19
Property Type: Single Family
MLS Number: 6014274
Community: SHORES AT THE ISLANDS
Tract: SHORES AT THE ISLANDS
Status: Active


AMAZING WATERFRONT HOME! Desirable one-of-a-Kind, dazzling interior & views. Comfortable & stimulating: Lake View, Patio, Pool, Grass & Private Dock. SINGLE-STORY with soaring ceilings joining a Formal Living Room & Formal Dining, Great Room with Wall-to-Wall glass, marble & carpeted flooring. One can be in all-glass Great Room, Breakfast Bay, Kitchen, TWO MASTER BEDROOMS & appreciate views to Pool, Patio, Lawn & Lake. An architectural epitome of thoughtful design, details & finishes. 1st large Master Bedroom Suite has bay windows overlooking Pool & Lake, a large Sitting Room, Master Bath, Shower, Spa & Marble floors. 2nd Master Bedroom also has private Bath, separate entry & bay window view to Lake. All may astonish! Relax on an expansive, very private, north exposure.

Listed with Amazing AZ Homes


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


$699,500 :: 1726 E QUEEN PALM Drive, Gilbert AZ, 85234

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3 beds, 3.5 baths
Home size: 3,134 sq ft
Lot Size: 11,326 sq ft
Added: 11/22/19, Last Updated: 12/06/19
Property Type: Single Family
MLS Number: 6008019
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
The price of this listing was last reduced on 12/6/2019 by 1%
Status: Active


AMAZING WATERFRONT BEAUTY! Gorgeous views of the big lake-you can boat to the clubhouse! Pebble-tec pool and spa with updated decking, huge north-facing patio overlooking grassy backyard & lake! Newly updated flooring and interior & exterior paint. Gourmet kitchen with updated cabinets, huge island, stainless steel appliances double ovens and microwave. Family room fireplace, formal living & dining room, office off family room with views of the lake, next to 3rd full bath. Large laundry room & huge pantry are all on the ground floor. Upstairs features oversized master suite w/separate custom shower & garden tub. 2 more bedrooms up w/Jack & Jill bath between. Extended length garage w/cabinets! This is a MUST see - your buyers will not be disappointed!!

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/!


$575,000 :: 4562 S GRISWOLD Street, Gilbert AZ, 85297

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3 beds, 2.5 baths
Home size: 2,597 sq ft
Lot Size: 11,326 sq ft
Added: 12/01/19, Last Updated: 12/01/19
Property Type: Single Family
MLS Number: 6006897
Community: LAYTON LAKES PARCEL 1 2ND AMD
Tract: LAYTON LAKES PARCEL 1 2ND AMD
Status: Active


Welcome to this Rare Find at Layton Lakes. 3 Bedroom plus Den, 2.5 Bathroom LAKEFRONT home at Layton Lakes. The Seller has meticulously maintained and upgraded this beautiful home with great care. From the moment you walk through the custom wrought iron and glass doors, your clients will be impressed. Gourmet Kitchen includes GE Profile appliances, Custom travertine back splash, upgraded light-cherry cabinets, under cabinet lighting and rarely used appliances including a new gas stove, new microwave and refrigerator. All bathrooms have been remodeled with travertine stone, including enlarged master shower, new countertops and custom glass shower and brushed nickel faucets. Bedroom carpet has been upgraded and the sellers have added plantation shutters throughout (see additional remarks)

Listed with Launch 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/!


$635,000 :: 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: 11/29/19, Last Updated: 11/30/19
Property Type: Single Family
MLS Number: 6006703
Community: REGATTA AT VAL VISTA LAKES AMD LOT 1-108
Tract: REGATTA AT VAL VISTA LAKES AMD LOT 1-108
Status: Active


Opportunity to own a single-level water front home in Val Vista Lakes gated Regatta subdivision. You will fall in love with this community and the lakes lifestyle! Private street at the end of a quiet cul-de-sac with additional parking in the center court. Single level living with open floorplan for easy entertaining! Large master bedroom with outdoor access to the hot tub on the private patio. Two bedrooms with a shared Jack-n-Jill bathroom. Large space for home office. Third bay of garage has been converted for living space. Possible 5th bedroom or can easily be converted back to garage. (Ask about details) North south facing with large patio stubbed for gas outdoor kitchen. Outdoor fireplace adjacent to hot tub for romantic evenings under the stars! Newer carpeting and paint.

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/!


$950,000 :: 1910 E WILLOW TREE Court, Gilbert AZ, 85234

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5 beds, 4.5 baths
Home size: 4,656 sq ft
Lot Size: 11,762 sq ft
Added: 10/18/19, Last Updated: 11/20/19
Property Type: Single Family
MLS Number: 5994028
Community: VAL VISTA LAKES - Lakeside
Tract: VAL VISTA LAKES - Lakeside
The price of this listing was last reduced on 11/20/2019 by 3%
Status: Active


This gorgeous lakefront property is located in the highly sought after area of Val Vista Lakes in gated LAKESIDE! Boasting it's own boat dock,THESE HOMES ARE RARELY AVAIL. & SELL QUICKLY SO DON'T DELAY! Enter through the gorgeous wrought-iron front door to formal living & dining with 20 FT. soaring ceilings. UPGRADES FEATURING(4) NEW A/C UNITS IN 2016 & PLANTATION SHUTTERS throughout. Smart Home systems include NEST THERMOSTATS & SONOS SOUND THRUOUT HOME! The gourmet eat-in kitchen has an abundance of custom cabinets, granite counters, X-large center island, 2 BOSCH dishwashers, warming drawer, 48'' built-in fridge, dbl. wall ovens, microwave & custom elec. cook top are top of the line. 2 X-LG PANTRYS take care of extra storage. Take the popcorn into the THEATER with 100+ inch screen!

Listed with Realty Executives


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 :: 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: 11/15/19
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 11/15/2019 by 1%
Status: Active


Location is Everything! Wakeboard, Jet Ski and Kayak from Your Own Backyard in this Private Recreational Lake Community. Direct Lake Access with Private Covered Boat Slip and Hydraulic Lift. Interior boasts spacious, light-filled rooms, wood plank flooring and beautiful South facing lake views. Home has been updated to include newer appliances, HVAC system, 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 w/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/!


$2,275,000 :: 1506 E TREASURE COVE Drive, Gilbert AZ, 85234

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6 beds, 6.5 baths
Home size: 5,706 sq ft
Lot Size: 17,860 sq ft
Added: 11/14/19, Last Updated: 11/14/19
Property Type: Single Family
MLS Number: 6005014
Community: WEST LAKE ESTATES LOT 1-40 TRACT A-C
Tract: WEST LAKE ESTATES LOT 1-40 TRACT A-C
Status: Active


Welcome to ''Crown Jewel'' of Val Vista Lakes!! Here you will find an absolutely STUNNING & UNIQUE 'One-Of-A-Kind' luxury architectural MASTERPIECE. Located on a lake in the highly prestigeous West Lake Estates and on one of the largest lots in Val Vista Lakes. Incredible waterfront views. In a gated community. A $14 million clubhouse, directly across the street is also included! Recently remodeled to perfection--NO expenses spared here! This contemporary estate is fully automated---control the huge sliding doors, blinds, kitchen cabinets, pool, thermostat, lights and much more, all at the touch of a button on your phone! This 'Smart Home' is designed to fully integrate with your smart phone. This one is only for the very discriminating buyer who wants it ALL and wont settle...

Listed with Cooper Premier Properties 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/!


$798,000 :: 1358 W SANDPIPER Drive, Gilbert AZ, 85233

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4 beds, 5 baths
Home size: 4,400 sq ft
Lot Size: 9,148 sq ft
Added: 10/19/19, Last Updated: 11/10/19
Property Type: Single Family
MLS Number: 5994178
Community: TRES VISTAS LOT 1-26 PARCEL A-B
Tract: TRES VISTAS LOT 1-26 PARCEL A-B
The price of this listing was last reduced on 11/10/2019 by 3%
Status: Active


Luxury lake living with room and privacy for everyone, and, oh, the views! This one of a kind lakefront home is perfect for multi-generational or large families. Each of the four huge bedrooms has its own beautifully updated en-suite full bathroom. The dramatically over-sized master is secluded from the rest of the house by being upstairs. It boasts a separate sitting area, workout area, cedar closet, walk-in closet and amazing views of the lake. A walk-in double shower, beautiful soaking tub, and lovely vanity make the master bath a luxurious retreat. The kitchen and living room offer dramatic views of the lake, including amazing sunsets and the best view of the famous Island's fountain on the lake.

Listed with Congress Realty, Inc.


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


$839,900 :: 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: 11/07/19
Property Type: Single Family
MLS Number: 5979288
Community: PLAYA DEL REY AMENDED
Tract: PLAYA DEL REY AMENDED
The price of this listing was last reduced on 11/7/2019 by 1%
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/!


$725,000 :: 2135 E CLIPPER Lane, Gilbert AZ, 85234

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4 beds, 2.5 baths
Home size: 3,442 sq ft
Lot Size: 10,019 sq ft
Added: 11/07/19, Last Updated: 11/07/19
Property Type: Single Family
MLS Number: 6001746
Community: Val Vista Lakes, Regatta at Val Vista Lakes
Tract: Val Vista Lakes, Regatta at Val Vista Lakes
Status: Active


Come see this Italian Mediterranean Jewel of the desert. Picture yourself waking up every morning looking out at the picturesque lake from your waterfront property nestled in a cul de sac in this beautiful sought after gated community of Val Vista Lakes. This fully custom home is a Mediterranean treasure with white Carrara marble floors, interior columns, coffer ceilings, granite counter tops, a large outdoor balcony, a lavish first floor master bed and bath and more. Want to listen to music while you take in this breath taking beauty enjoy the built in surround sound throughout the home and be memorized with the architecture throughout and hand painted murals of Italy.

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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