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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$687,000 :: 1236 W EDGEWATER Drive, Gilbert AZ, 85233

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5 beds, 3.5 baths
Home size: 4,242 sq ft
Lot Size: 9,148 sq ft
Added: 02/22/19, Last Updated: 07/22/19
Property Type: Single Family
MLS Number: 5887260
Community: CATALINA BAY AT THE ISLANDS UNIT 4
Tract: CATALINA BAY AT THE ISLANDS UNIT 4
The price of this listing was last reduced on 7/22/2019 by 1%
Status: Active


New Paint through the entire house! Seller is also providing a One Year Ultimate Warranty on the home and pool. Pre-purchased and will be transferred to the new owner! This home sits at the center of all five ''fingers'' that make up Lake 2! It's on the most coveted/primary lot on the water. This Beautiful, Resort-Style Living Home has views from every window. 4200 sq ft, 5 bedrooms and a built-out office/man cave with a separate entrance. The 3 car garage has fresh epoxy floors. The master closet is built-out with sophisticated shelving. Most ceilings boast crown molding. You name it - this house offers it!

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/!


$797,000 :: 1455 W HEATHER Avenue, Gilbert AZ, 85233

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7 beds, 4 baths
Home size: 4,561 sq ft
Lot Size: 10,019 sq ft
Added: 07/05/19, Last Updated: 07/18/19
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 7/18/2019 by 0%
Status: Active


Enjoy Lake Life Year Round! Waterski, Wakeboard, Jet Ski and Kayak from Your Own Backyard in this Private Recreational Lake Community. Updated interior boasts spacious, light-filled rooms, espresso wood plank flooring and beautiful lake views. Home includes new appliances, A/C, paint and more while leaving room for a new owner's personal touches. Massive master suite includes 450 square foot deck overlooking the lake. Multiple bedrooms and living spaces offer flexible options for guests and multi-generational living with 3 bedrooms and 2 full baths downstairs. Plenty of room to expand by adding large waterfront deck and pool in the backyard and includes covered boat house (hydraulic lift available) for convenient lake access.

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/!


$525,000 :: 1141 W PENINSULA Drive, Gilbert AZ, 85233

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3 beds, 2 baths
Home size: 2,613 sq ft
Lot Size: 10,019 sq ft
Added: 07/18/19, Last Updated: 07/18/19
Property Type: Single Family
MLS Number: 5953691
Community: WINDHAVEN LOT 1-65 TR A-C
Tract: WINDHAVEN LOT 1-65 TR A-C
Status: Active


SPECTACULAR LAKEFRONT LOCATION! Single level waterfront home in the coveted subdivision of The Islands! 3 Bedroom + Den, 3 car garage, pristine pool! Gorgeous views of the Lake in both directions. NEW Roof and AC! Newly refinished pool! Original owner. Circa 1988 interior, well cared for...just ready for any updating that is of your choice (priced accordingly, approx. -$50K below comparable others on the lake that have been updated) ).Let our photo gallery take you on a tour!Come check it out! When you buy a home in The Islands , you buy a Stay-cation Lifestyle! Come join us!

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/!


$645,000 :: 2020 E CATAMARAN Drive, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 3,221 sq ft
Lot Size: 10,455 sq ft
Added: 06/27/19, Last Updated: 07/18/19
Property Type: Single Family
MLS Number: 5945535
Community: REGATTA AT VAL VISTA LAKES AMD LOT 1-108
Tract: REGATTA AT VAL VISTA LAKES AMD LOT 1-108
The price of this listing was last reduced on 7/18/2019 by 1%
Status: Active


Beautifully updated Val Vista Lakes waterfront home in the gated Regatta community. This 5 bedroom, 3 full bath home on a cul-de sac street offers a gorgeous interior, updated throughout in 2017. Vaulted ceilings, wood look tile & spacious layout greets you as you walk in the front door. Living rm. features a fireplace & lots of natural light. Dining room w/ French doors to enjoy the additional private patio. Kitchen is open to the family rm, white cabinetry, granite counters, b-fast bar, lg walk-in pantry, stainless appliances & lake views! Mstr bedroom conveniently located downstairs w/ separate entrance to patio. Mstr bath has all the right finishes w/ a freestanding tub, walk-in shower & dual sink vanity. Second bedroom downstairs w/ full bath could be used as den/office or guest suite

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/!


$859,000 :: 1750 E COCO PALM Court, Gilbert AZ, 85234

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4 beds, 3 baths
Home size: 3,421 sq ft
Lot Size: 12,197 sq ft
Added: 07/17/19, Last Updated: 07/17/19
Property Type: Single Family
MLS Number: 5953415
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
Status: Active


Single Level Custom 4 bed, 3 bath, waterfront home with spectacular panoramic lake views in gated community. Huge kitchen-abundant cabinetry plus pantry with wonderful view of heated negative-edge pool, spa, and lake. Open Great Room has 18'ceiling, sunken wet bar & fridge. Beautiful, professionally designed, stained-glass front entry door & Travertine tile entryway. Unique 3 Dolphin water feature at pool. Monitor kids pool activity with a security camera system. New redwood deck on the boat dock. New AC evaporators using 410A coolant. New water heater and water softener. Instant hot water loop and pumps. New exterior paint, carpet and marble tile in master bath and Jack & Jill bath. Oversized extended garage with built in cabinets. Approx 725 sf patio under roof.

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/!


$599,000 :: 4722 S GRISWOLD Street, Gilbert AZ, 85297

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6 beds, 4.5 baths
Home size: 3,753 sq ft
Lot Size: 10,890 sq ft
Added: 07/16/19, Last Updated: 07/17/19
Property Type: Single Family
MLS Number: 5953142
Community: LAYTON LAKES PARCEL 1 2ND AMD
Tract: LAYTON LAKES PARCEL 1 2ND AMD
Status: Active


**WATERFRONT LOT WITH ONE OF THE BEST VIEWS IN ALL OF LAYTON LAKES!**MAIN LEVEL OF HOME HAS GUEST ROOM W/FULL BATH, FORMAL LIVING ROOM, FORMAL DINING, POWDER ROOM,GOURMET KITCHEN, PLUS A SEPARATE ASIAN KITCHEN; SPACIOUS FAMILY ROOM AND BREAKFAST ROOM WITH STUNNING WATER VIEWS**UPSTAIRS IS HUGE MASTER WITH HIS AND HERS WALK-IN CLOSETS, TWO SECONDARY BRS W/ JACK N JILL BATH AND TEEN SUITE W/PRIVATE BATH **OUTSIDE IS AN ENTERTAINER'S DREAM**TOP OF LINE SUN SHADES THROUGH OUT OF HOUSE TO PROVIDE XIMUM PRIVACY AND ENERGY EFFICIENCY** SO MUCH MORE, COME SEE IT TODAY!!!

Listed with Gold Trust 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/!


$800,000 :: 2004 E FREEPORT Lane, Gilbert AZ, 85234

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5 beds, 4.5 baths
Home size: 3,716 sq ft
Lot Size: 10,890 sq ft
Added: 05/23/19, Last Updated: 07/15/19
Property Type: Single Family
MLS Number: 5930240
Community: REGATTA AT VAL VISTA LAKES
Tract: REGATTA AT VAL VISTA LAKES
The price of this listing was last reduced on 7/15/2019 by 3%
Status: Active


This is IT ! No need to remodel or update a thing in this professionally designed HOME. Beautiful Val Vista Lakes waterfront home in the REGATTA subdivision. Beauttiful kitchen with large bay breakfast room overlooking the pool & rear yard. Formal dining & living room with custom designed ceiling. Family room with electric fireplace (no messes to clean) travertine stone, and soaring ceilings. Large wall of glass sliding doors open out onto the covered patio, ideal for parties. Large master on main level with beautiful spa-like master bathroom. His & hers closets and vanities! Large room on main floor for office or 2nd bedroom! Upstairs are two XL bedrooms, 1 bath + ensuite bed & bathroom! Basement has a unique walk out patio off the game room. Large bedroom & full bath with huge storage

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/!


$999,500 :: 1422 W COMMERCE Avenue, Gilbert AZ, 85233

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5 beds, 5 baths
Home size: 6,298 sq ft
Lot Size: 10,019 sq ft
Added: 04/12/19, Last Updated: 07/01/19
Property Type: Single Family
MLS Number: 5910662
Community: PLAYA DEL REY AMENDED
Tract: PLAYA DEL REY AMENDED
The price of this listing was last reduced on 7/1/2019 by 5%
Status: Active


Do you love skiing & lake life? Would you like to be able to ski, wakeboard, jet-ski or paddle board every day of the year? If so, we have the PERFECT LAKEFRONT PROPERTY for you! This 5 bed (plus loft) / 5 bath two-story home w/ NEXT GEN SUITE is in the private lake community of Play del Ray on a crystal blue lake w/ a 1/2 mile loop which allows all types of motorized boats & jet skis, as well as swimming. The backyard/dock has brand new, heat resistant deck (no burning feet!), boat dock w/ motorized lift, crank shade structure, fully organized ''gear wall'' w/ racks, 2 outside heated showers, water fountain, sandbox (with auto water filler) & natural gas line for your BBQ. The side storage area is HUGE & can fit multiple vehicles, off-road ''toys'' and/or a RV.

Listed with Rachael Richards 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/!


$639,900 :: 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: 06/27/19, Last Updated: 06/27/19
Property Type: Single Family
MLS Number: 5945164
Community: REGATTA AT VAL VISTA LAKES
Tract: REGATTA AT VAL VISTA LAKES
Status: Active


Waterfront living*Single level* Many upgrades/recent improvements including: New Roof/underlayment plus sky lights; Bamboo wood flooring; newer carpet; updated cabinets; no salt H2o softener; stainless appliances; slab granite counter tops; plantation shutters; high efficiency A/C; remodeled MBR shower. Two fireplaces, one outside on patio next to in ground hot tub/spa. Boat dock! 3rd garage bay was converted to living space with extra insulation plus heated/cooled & Included in square footage. It can be converted back. Prestigious Val Vista Lakes resort living w/$10 Million Clubhouse, four lakes, junior Olympic heated pool, Jacuzzi, sandy beach entry lagoon, lighted tennis courts, racquetball, waterfalls, community activities, fishing, boating & workout facility w/cardio & weight rooms!

Listed with Choice One 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/!


$2,490,000 :: 7450 S BEACH Boulevard, Gilbert AZ, 85298

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6 beds, 6.5 baths
Home size: 7,958 sq ft
Lot Size: 43,560 sq ft
Added: 01/07/19, Last Updated: 03/12/19
Property Type: Single Family
MLS Number: 5864521
Community: SANTAN LAKESIDE ESTATES AMD
Tract: SANTAN LAKESIDE ESTATES AMD
The price of this listing was last reduced on 3/12/2019 by 0%
Status: Active


WATERFRONT CUSTOM ESTATE-GORGEOUS MOUNTAIN VIEWS! Ski/Tube/Wake & Paddleboard from your beachfront backyard. 19 One Acre Lots Nestled Around a Private 13 Acre Lake- ENTERTAINERS DREAM! Main House 5/5.5 plus pool 1/2 bath 6,984 sq. ft. plus 974 sq.ft. Casita - Main Home features Greatroom open to unobstructed lake views, Gourmet Chef's Kitchen with room to entertain. Gorgeous Textures- Rolled brick Ceilings/Travertine /Sub-Zero/Butler's pantry w/wine fridge/ Large laundry room with all the extras! Kids wing has 3 beds and Gameroom. Detailed ceiling work. Amazing backyard w/Heated Pool/Spa/Grill Area/Fire Pit and Pizza oven. Private Covered Boat Dock with full lake access. Furniture and Boat available for sale. All 14 flat screen TV's convey with property. RV Garage! This is a Must See

Listed with West USA 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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