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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$995,000 :: 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: 08/17/18, Last Updated: 08/17/18
Property Type: Single Family
MLS Number: 5808435
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 THG 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/!


$1,145,000 :: 340 N SHORE Lane, Gilbert AZ, 85233

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5 beds, 3 baths
Home size: 3,100 sq ft
Lot Size: 20,037 sq ft
Added: 02/22/18, Last Updated: 08/15/18
Property Type: Single Family
MLS Number: 5726800
Community: CRYSTAL POINT ESTATES AMD LOT
Tract: CRYSTAL POINT ESTATES AMD LOT
The price of this listing was last reduced on 8/15/2018 by 5%
Status: Active


Arizona Lifestyle at its Finest! Outstanding Waterfront Home located in the beautiful gated community of Crystal Point Estates. Walk out to your boathouse, push a button to lower the boat and enjoy water skiing, wakeboarding, or tubing in your own backyard or enjoy a peaceful cruise around the lake on a paddleboard. It's all about the Arizona Waterfront Lifestyle and Watersports and it's all in Your Backyard! This GORGEOUS 5 BR 3 Bath 3100 sq ft home has been recently updated and is Move-in Ready. A perfect home for entertaining inside and out. It features all new tinted, double pane, low E windows, complete new roof in 2016, newer A/C units, new natural looking wood grain tile throughout, soaring ceilings, soothing palette, large windows,new carpet. Chefs kitchen features-see 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/!


$750,000 :: 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: 08/14/18
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 8/14/2018 by 6%
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/!


$649,900 :: 518 S BAY SHORE Boulevard, Gilbert AZ, 85233

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4 beds, 3.5 baths
Home size: 3,249 sq ft
Lot Size: 7,840 sq ft
Added: 08/04/18, Last Updated: 08/04/18
Property Type: Single Family
MLS Number: 5802698
Community: HARBOR POINT LOT 1-78 LAKE EAS
Tract: HARBOR POINT LOT 1-78 LAKE EAS
Status: Active


WOW WOW! Wow ! Honey stop the car !Finally a 2018 looking remodeled home. Ready to move in next week !! Luxury lake home on the wide part of the water with a pool !! This one is loaded up like a model home, plank tile floors throughout first floor except master suite. White cabinetry in kicthen, new granite through entire house. carpets replaced, new light gray paint, white doors, all new door hardware, built in office cabinets, built in master suite. Custom wood shutters throughout, 6'' baseboard and 6'' coffered ceiling, seller really customized this home to stay. This lake allows electric boats too, you hav eto see the boat parades, what a great neighborhood and community, won't last long !!Please note seller will add closet to den as originally built at sellers expense.

Listed with Arizona Real Estate Services


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


$749,888 :: 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: 07/02/18
Property Type: Single Family
MLS Number: 5707695
Community: VAL VISTA LAKES
Tract: VAL VISTA LAKES
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/!


$699,999 :: 1211 N REGATTA Drive, Gilbert AZ, 85234

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4 beds, 3 baths
Home size: 3,342 sq ft
Lot Size: 9,583 sq ft
Added: 06/07/18, Last Updated: 06/25/18
Property Type: Single Family
MLS Number: 5777160
Community: REGATTA AT VAL VISTA LAKES AMD
Tract: REGATTA AT VAL VISTA LAKES AMD
The price of this listing was last reduced on 6/25/2018 by 1%
Status: Active


4 bedroom 3 bath custom built lakefront home with one of the very best views in Val Vista Lakes!Gated community,3348 SF in main house,833 addl SF in garage.Builder utilized many energy efficient upgrades:3 + car garage, insulated garage & insulated garage doors.Master Bedroom on main floor.Marble Floor & Counter in Master Bath2x6 construction.Highly insulated to save you $$ on cooling / heating bills.Upgraded energy efficient Pella windows.3 brand new 16 seer A/C units; 3 zones for maximum energy efficiencyNew hot water heater; New water softener. New exterior paint.Granite counters throughout home, custom built cabinetry throughout.Tons of closet space.Outdoor cooktop. Boat dock.'Tubes in walls' pest control system Mature fruit bearing tree in yard.RV g

Listed with Revinre


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


$1,795,000 :: 193 N SKI Court, Gilbert AZ, 85233

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6 beds, 7 baths
Home size: 6,700 sq ft
Lot Size: 20,037 sq ft
Added: 09/20/17, Last Updated: 06/04/18
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 6/4/2018 by 5%
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/!


$549,000 :: 362 S BAY SHORE Boulevard, Gilbert AZ, 85233

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4 beds, 2.5 baths
Home size: 3,211 sq ft
Lot Size: 6,534 sq ft
Added: 02/17/18, Last Updated: 05/29/18
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 5/29/2018 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/!


$568,000 :: 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: 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/!


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

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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: VAL VISTA LAKES
Tract: VAL VISTA LAKES
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/!


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