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.

Related Posts

The Islands properties with a great view

Phoenix Luxury Waterfront Property

Gilbert Waterfront and Lake Communities

Riverview Park in Mesa

$553,500 :: 362 S BAY SHORE Boulevard, Gilbert AZ, 85233

Property Photo

Mls Icon

4 beds, 2.5 baths
Home size: 3,211 sq ft
Lot Size: 6,534 sq ft
Added: 02/17/18, Last Updated: 05/26/18
Property Type: Single Family
MLS Number: 5725089
Community: DESERT SHORES AT THE ISLANDS
Tract: DESERT SHORES AT THE ISLANDS
The price of this listing was last reduced on 5/26/2018 by 1%
Status: Active


Please text or call for Full Video Virtual Tour. This gorgeous home has been professionally remodeled and it shows! Flagstone & wood throughout all areas! Beautiful Kitchen has upgraded Alder Cabinets, Granite Counters, & Stainless Steel Appliances! Open layout to family room features a wrap around wall system & Corner Granite Eichler Gas Fireplace, Surround Sound, & wall to wall windows w/ amazing views of the lake! Master Suite, has highly upgraded bathroom w/ Carerra Marble Counters, porcelain tile shower & much more! Backyard features flagstone throughout all patio areas, gazebo w/outdoor cook center, Lynx BBQ, gas firepit, waterfall, newly renovated oversized dock & breathtaking views of the water is a private small park on the lake.

Listed with Keller Williams Realty Sonoran Living


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 :: 1002 S CROWN KEY Court, Gilbert AZ, 85233

Property Photo

Mls Icon

3 beds, 2 baths
Home size: 2,592 sq ft
Lot Size: 10,018 sq ft
Added: 05/25/18, Last Updated: 05/26/18
Property Type: Single Family
MLS Number: 5771648
Community: KEY HARBOR LOT 1-71 TR A-C
Tract: KEY HARBOR LOT 1-71 TR A-C
Status: Active


DREAMS FOR SALE! Exceptional and impeccably kept 3 bedroom/Den , single level Home in the highly desired subdivision of The Islands! Pristine Waterfront lot with multiple outdoor entertainment areas. NEW ROOF 2018. Neutral color Decor. Updated plank-tile flooring with upgraded carpet. 2 Fireplaces both indoor/outdoor. 2 Bay Windows @ Kitchen & Master Bedroom. Modern Gourmet Kitchen with Black Appliances. With acceptable offer, Seller is willing to credit buyer $2500 toward an appliance pkg. Vaulted ceilings and beautiful spacious Floorplan. Double gate with parking for ''Boats/Toys''. 3 car garage with workbench and storage. This home as a single level on the water w/ 3car G, RV parking etc does not come available very often. Located just a few miles from DT Gilbert.Must See Photo Gallery

Listed with Re/Max Infinity


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


$568,000 :: 432 S BAY SHORE Boulevard, Gilbert AZ, 85233

Property Photo

Mls Icon

4 beds, 2.5 baths
Home size: 2,521 sq ft
Lot Size: 7,405 sq ft
Added: 05/24/18, Last Updated: 05/24/18
Property Type: Single Family
MLS Number: 5770856
Community: HARBOR POINT LOT 1-78 LAKE EAS
Tract: HARBOR POINT LOT 1-78 LAKE EAS
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/!


$759,000 :: 1825 E MONARCH BAY Drive, Gilbert AZ, 85234

Property Photo

Mls Icon

4 beds, 3 baths
Home size: 3,140 sq ft
Lot Size: 11,761 sq ft
Added: 04/23/18, Last Updated: 05/23/18
Property Type: Single Family
MLS Number: 5755855
Community: CRYSTAL SHORES AT VAL VISTA LA
Tract: CRYSTAL SHORES AT VAL VISTA LA
The price of this listing was last reduced on 5/23/2018 by 5%
Status: Active


Must see this beautiful and updated home with dramatic vaulted ceilings on the 'big' lake in the much sought after community of Val Vista Lakes*Enter to living room and separate dining room*Island kitchen has been remodeled with stainless steel appliances, gas stove, beautiful cabinets, walk in pantry and eating area*Family room has marble gas fireplace*Luxury master suite boasts remodeled bathroom with double head shower,Jacuzzi tub, double sinks, and closet organizers*Fabulous yard has outdoor kitchen with sink, bar and grill, *Beautiful pebble tec pool and separate spa with new heater*High pressure mister systems on downstairs patio and upstairs deck*Val Vista Lakes community includes 4 lakes, a swimming lagoon, junior Olympic pool, Jacuzzi*The clubhouse includes cardio room,

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/!


$519,000 :: 1252 N PALMSPRINGS Drive, Gilbert AZ, 85234

Property Photo

Mls Icon

4 beds, 2.5 baths
Home size: 2,714 sq ft
Lot Size: 6,534 sq ft
Added: 05/18/18, Last Updated: 05/19/18
Property Type: Single Family
MLS Number: 5768551
Community: LANDING 2 AT VAL VISTA LAKES L
Tract: LANDING 2 AT VAL VISTA LAKES L
Status: Active


MAGNIFICENT LAKE FRONT HOME! Remodeled Four Bedroom Home with Formal Living & Dining Rooms with tile flooring and granite stairway to upstairs. Outstanding Lake views from all windows and has balcony off master bedroom overlooking the lake. The Kitchen features granite counter tops with upgraded cabinets, a walk-in pantry and island with breakfast bar. The spacious master suite features a private balcony exit, full bath, double sinks, separate tub and shower, and large walk-in closet. The grassy backyard includes an extended covered patio overlooking the Lake! The large 2 1/2 car garage has epoxy flooring. Enjoy the Val Vista Lakes Clubhouse, workout room, heated pool, sandy beach lagoon, lighted tennis courts, racquetball, waterfalls, community activities, fishing, boating!

Listed with ProSmart 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/!


$1,085,000 :: 1506 E TREASURE COVE Drive, Gilbert AZ, 85234

Property Photo

Mls Icon

5 beds, 4.5 baths
Home size: 5,706 sq ft
Lot Size: 17,859 sq ft
Added: 02/23/18, Last Updated: 05/17/18
Property Type: Single Family
MLS Number: 5727612
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 5/17/2018 by 4%
Status: Active


Beautiful Waterfront Home! Luxury living in gated WestLake Estates close to the Val Vista Lakes Clubhouse! The home has 3 bedrooms on the main floor (2 w/views of the lake), all connected to baths, the grand master suite is on the second floor with a private balcony facing the lake, large walk-in closet, luxury master bath & fireplace. Walkout basement suite is perfect for guests w/an exit to the backyard, bedroom, full bath, fireplace & kitchenette. the large kitchen has lots of cabinet & counter space, built-in refrig/freezer, gas cook-top, breakfast nook looking out to the beautiful backyard & an exit. Formal living & dining along with large family room including a floor-to-ceiling fireplace w/views to the amazing backyard. Negative edge diving pool, outdoor kitchen, gas firepit etc.

Listed with Re/Max Infinity


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 :: 1125 N DATE PALM Drive, Gilbert AZ, 85234

Property Photo

Mls Icon

5 beds, 3 baths
Home size: 4,458 sq ft
Lot Size: 13,068 sq ft
Added: 05/17/18, Last Updated: 05/17/18
Property Type: Single Family
MLS Number: 5767357
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
Status: Active


Welcome to the good life. Enjoy paradise in the desert daily with one of the best lake views in all of Val Vista Lakes. East facing backyard ensures amazing sunrises and cool afternoons/evenings with custom pool and spa in a spacious backyard oasis. Home is situated in the gated Lakeside neighborhood of Val Vista Lakes. Upgrades include custom kitchen, master bath, travertine flooring and much much more. Expansive master bedroom overlooks backyard and amazing lake views. Home owners in Val Vista Lakes have access to the East Valley's premier community clubhouses with multiple tennis courts, beach pool, heated Jr Olympic swimming pool, fitness center, racquetball courts and meeting/events rooms.

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/!


$1,885,000 :: 193 N SKI Court, Gilbert AZ, 85233

Property Photo

Mls Icon

6 beds, 7 baths
Home size: 6,700 sq ft
Lot Size: 20,037 sq ft
Added: 09/20/17, Last Updated: 05/16/18
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 5/16/2018 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/!


$550,000 :: 599 N ACACIA Drive, Gilbert AZ, 85233

Property Photo

Mls Icon

4 beds, 3 baths
Home size: 2,913 sq ft
Lot Size: 8,712 sq ft
Added: 05/11/18, Last Updated: 05/11/18
Property Type: Single Family
MLS Number: 5764708
Community: PLAYA DEL REY
Tract: PLAYA DEL REY
Status: Active


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, murphy beds and 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. Enjoy all the amenities this ski lake amazing community

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/!


$749,900 :: 1912 E CATAMARAN Court, Gilbert AZ, 85234

Property Photo

Mls Icon

5 beds, 3 baths
Home size: 3,798 sq ft
Lot Size: 13,939 sq ft
Added: 01/11/18, Last Updated: 05/03/18
Property Type: Single Family
MLS Number: 5707695
Community: VAL VISTA LAKES
Tract: VAL VISTA LAKES
The price of this listing was last reduced on 5/3/2018 by 3%
Status: Active


THIS HOME IS IDEALLY SITUATED ON ONE OF THE LARGEST NORTH/SOUTH FACING WATERFRONT LOTS & HAS ONE OF THE MOST OPEN SPACIOUS FLOORPLANS IN REGATTA. (A Val Vista Lakes Community)IDEALLY LOCATED ON A CUL DE SAC, THE HOME IS SET BACK WITH A LONG WIDE DRIVEWAY THAT ACCOMMODATES PARKING FOR 3 CARS DEEP AND 3 CARS WIDE IN ADDITION TO THE OVERSIZED 3 CAR GARAGE.ADDITIONALLY, THIS HOME BOASTS ONE OF THE LARGEST BACK YARDS IN REGATTA WITH A REMODELED PEBBLE TEC SALTWATER POOL WITH NEW FILTER AND VARIABLE SPEED PUMP, SALTWATER SPA AND LARGE TRAVERTINE PAVER PATIO. ENJOY THE PRIVACY AND ABSOLUTELY GORGEOUS VIEWS FROM THE COVERED ENTERTAINING AREA OR MASTER BALCONY. YOU CAN SIMPLY RELAX IN THE SPARKLING POOL OR TAKE THE BOAT OUT FROM YOUR PRIVATE DOCK THAT INCLUDES ELECTRIC AND WATER. Home features

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/!