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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$725,000 :: 2020 E FREEPORT Lane, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 3,062 sq ft
Lot Size: 10,454 sq ft
Added: 06/25/18, Last Updated: 10/18/18
Property Type: Single Family
MLS Number: 5785216
Community: Regatta at Val Vista Lakes
Tract: Regatta at Val Vista Lakes
The price of this listing was last reduced on 10/18/2018 by 3%
Status: Active


Paver walk way leads to this beautiful waterfront home, completely remodeled and ready ** Enter to spacious living room and dining room ** Fireplace in family room with surround sound ** Gourmet kitchen with all new stainless steel appliances, granite counter tops, loads of storage and refrigerator will stay ** Master suite is kingsize with jacuzzi tub and separate shower, double sinks, gas fireplace and balcony with marble floors overlooking yard ** Large yard with pebble sheen swimming pool, separate jacuzzi, pomegranate, orange and lemon trees, loads of grassy play area, and boat dock ** There is so much to mention here and a few extras include shutters throughout, marble floors throughout, stone covered fireplaces and pillars outside, motorized chandelier can be lowered for cleaning,

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/!


$719,900 :: 1817 E Willow Tree Court, Gilbert AZ, 85234

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4 beds, 2.5 baths
Home size: 2,970 sq ft
Lot Size: 12,196 sq ft
Added: 09/21/18, Last Updated: 10/16/18
Property Type: Single Family
MLS Number: 5823607
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
The price of this listing was last reduced on 10/16/2018 by 1%
Status: Active


Million Dollar Views for a fraction of the price! Amazing Lakefront property on the market for first time in 8 years. Newly renovated 3000 sqft. 4 bedroom w/Office & Formal Dining Room. Split floor plan, 3-car garage w/Spa inspired Block Glass Walk-in Shower in Master Suite shows like a model. Marble Tile, Wood Floors & Plantation Shutters on every window! Open concept Great Room/Kitchen overlooks extraordinary lake views. Stainless Steel Appliances. Resort style negative edge swimming pool on 12,000 sqft premium cul-de-sac lake lot. Clubhouse features 8-court championship tennis complex, indoor racquetball courts, cardio & weight training facilities, Jr Olympic swimming pool, spa, banquet/meeting rooms, waterfalls, tropical lagoon swimming pool w/sandy beach. WOW!! This home won't last!!

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/!


$775,000 :: 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: 10/10/18
Property Type: Single Family
MLS Number: 5831466
Community: Val Vista Lakes
Tract: Val Vista Lakes
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/!


$1,099,000 :: 285 N Ski Court, Gilbert AZ, 85233

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5 beds, 4 baths
Home size: 3,478 sq ft
Lot Size: 20,037 sq ft
Added: 08/29/18, Last Updated: 10/05/18
Property Type: Single Family
MLS Number: 5813254
Community: Crystal Point Estates
Tract: Crystal Point Estates
The price of this listing was last reduced on 10/5/2018 by 4%
Status: Active


Beautiful Custom Home in sought after Crystal Point Estates Gated Community, Gilbert Az. Arizona Living Your Way!! 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, 3478sf,almost a half acre lot at 19,985sqft and approx. 164 feet of waterfront. Formal Living Room touts stunning views upon entry into this lovely property. Great Room is Open to spacious kitchen with granite counter tops, custom maple cabinets, breakfast bar, eat in kitchen area with bay window for enjoying brunch with a view.Great room touts lots of space, Cantera fireplace,

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/!


$679,000 :: 1825 E CYPRESS TREE Drive, Gilbert AZ, 85234

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4 beds, 2 baths
Home size: 2,493 sq ft
Lot Size: 13,939 sq ft
Added: 08/12/18, Last Updated: 09/28/18
Property Type: Single Family
MLS Number: 5806089
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
The price of this listing was last reduced on 9/28/2018 by 3%
Status: Active


A rare find, this one-story home is on the big lake at Val Vista Lakes Community with a boat to ride to the Clubhouse which features a sandy beach pool and a heated Jr. Olympia swimming pool with lap lanes. Tennis, racquet ball, pickle ball, weight & cardio rooms for a great workout. Private locker rooms with showers. The home is on a quiet cul-de-sac and walking distance to clubhouse, elementary school & playground. 4 spacious bedrooms, walk-in closets. Baths have double sinks, master has separate shower and soak tub. 2nd bath as full-size tub and shower with privacy door. A rare opportunity, a one story on open water, the VACANT lot across the lake from this home recently sold for $450,000, a new home is under construction. Double boat dock with seating area.

Listed with USELLSMART 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/!


$700,000 :: 1910 E CORAL TREE Drive, Gilbert AZ, 85234

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4 beds, 2.5 baths
Home size: 2,686 sq ft
Lot Size: 13,939 sq ft
Added: 07/13/18, Last Updated: 09/21/18
Property Type: Single Family
MLS Number: 5793500
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
The price of this listing was last reduced on 9/21/2018 by 3%
Status: Active


Must see this beautiful single level custom waterfront home on a very large lot ** This home is on the ''big'' lake in the much sought after gated Lakeside community ** Enter to spacious living room and dining room ** Island kitchen features granite counters, built in gas stove, built in oven and microwave, plus walk in pantry ** Cabinets all the way around the island plus separate breakfast area ** Lake views from almost every room ** Jacuzzi tub and walk in closet in master suite ** Huge yard with swimming pool and jacuzzi, loads of grass area plus huge side yards ** Fabulous view down the lake ** This home was built with sheer walls all the way around the house and there are no load bearing walls inside ** Plank travertine floors ** See supplement below for Val Vista Lakes amenities

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/!


$600,000 :: 1442 W EMERALD KEY Court, Gilbert AZ, 85233

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4 beds, 2.75 baths
Home size: 3,470 sq ft
Lot Size: 8,712 sq ft
Added: 09/20/18, Last Updated: 09/20/18
Property Type: Single Family
MLS Number: 5822966
Community: THE ISLANDS
Tract: THE ISLANDS
Status: Active


Stunning waterfront home in the beautiful Islands community of Gilbert. Located in a cul-de-sac, this large family home sits ideally on the waters edge with stunning views. Enjoy all of lakes in the Islands community for fishing, boating, rowing, etc. This home is ready for your custom final touches- create your masterpiece with this spacious floorplan. 4 bedrooms, 3 baths and 3 car garage, and gorgeous resort backyard and pool. This home is just steps away from the A+ school of excellence-Islands Elementary, and minutes to award winning downtown Gilbert restaurants. Come see this home for yourself in person and you will be impressed, these rare beauties on the water don't come along often.

Listed with RE/MAX Alliance 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/!


$724,900 :: 2111 E CLIPPER Lane, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 3,025 sq ft
Lot Size: 10,018 sq ft
Added: 09/17/18, Last Updated: 09/17/18
Property Type: Single Family
MLS Number: 5821409
Community: Regatta at Val Vista Lakes
Tract: Regatta at Val Vista Lakes
Status: Active


Exquisite, Lake Front home in The gated community of The Regatta in Val Vista Lakes, The grand staircase greets you as you enter the large cast front door, The Kitchen boasts Granite, stainless, breakfast nook, breakfast bar & an oversized walk-in pantry, the kitchen overlooks a large great room, perfect for entertaining & family, The beautiful backyard speaks for itself, it's a masterpiece with a gazebo, firepit, grassy area, sparkling pool with water feature & of course an incredible view of the lake with your own dock, the Luxurious Master Suite is a sanctuary with tile shower & surrounds & marble vanities, the private upstairs balcony has a stunning view of the lake, it's perfect for that morning cup of coffee or just relaxing & reading,

Listed with United Brokers 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/!


$709,900 :: 1912 E CATAMARAN Court, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 3,798 sq ft
Lot Size: 13,939 sq ft
Added: 01/11/18, Last Updated: 08/30/18
Property Type: Single Family
MLS Number: 5707695
Community: VAL VISTA LAKES
Tract: VAL VISTA LAKES
The price of this listing was last reduced on 8/30/2018 by 5%
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/!


$558,000 :: 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: 08/23/18
Property Type: Single Family
MLS Number: 5770856
Community: HARBOR POINT LOT 1-78 LAKE EAS
Tract: HARBOR POINT LOT 1-78 LAKE EAS
The price of this listing was last reduced on 8/23/2018 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/!


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