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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$1,395,000 :: 1124 N PEPPERTREE Drive, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 3,375 sq ft
Lot Size: 11,326 sq ft
Added: 07/01/22, Last Updated: 07/01/22
Property Type: Single Family
MLS Number: 6410225
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
Status: Active


Enjoy premium lake views from this 5 bed/3 bath home in gorgeous Lakeside at Val Vista Lakes. This waterfront home is perfect for relaxing and entertaining inside and out. Cruise 7 miles of shoreline or enjoy nightly sunsets from the upper deck. Put your culinary skills to use with the outdoor kitchen, unwind in the private pool or enjoy lounging by the outdoor fireplace or firepit. Club amenities include workout facility, jr olympic pool, beach entry pool, racquetball, tennis, pickle ball and more! This lush green lake community is a quick commute to the 60 for great valley wide access.

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/!


$1,350,000 :: 1734 E QUEEN PALM Drive, Gilbert AZ, 85234

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4 beds, 3 baths
Home size: 2,658 sq ft
Lot Size: 12,197 sq ft
Added: 06/30/22, Last Updated: 06/30/22
Property Type: Single Family
MLS Number: 6422790
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
Status: Active


One-of-a-kind custom-built home in the desirable Lakeside located in the Val Vista Lakes Community is now on the market! As soon as you walk through the front door, you are greeted with an open, bright home, sprawling staircase, & family room 3-panel window-sliding arcadia door which looks out on to the pool, lush resort-like backyard and the lake. Seller has masterfully created a haven with new palm trees, fig trees, and citrus trees to compliment the lush landscape of the Val Vista Lakes Community. This remodeled beauty features floor to ceiling windows, remodeled kitchen with new oven/range, new $10,000 whole house water filtration system & comes fully furnished interior & exterior with all furniture purchased in the last year. Enjoy the wonderful Arizona outdoor

Listed with Redfin Corporation


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


$915,000 :: 3654 E CHESTNUT Lane, Gilbert AZ, 85298

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4 beds, 3.5 baths
Home size: 2,896 sq ft
Lot Size: 8,277 sq ft
Added: 06/03/22, Last Updated: 06/30/22
Property Type: Single Family
MLS Number: 6408688
Community: BRIDGES AT GILBERT PHASE 1 PARCEL 4
Tract: BRIDGES AT GILBERT PHASE 1 PARCEL 4
The price of this listing was last reduced on 6/30/2022 by 1%
Status: Active


This gorgeous, highly upgraded ($190K) Bridges home is move-in ready! Single level beauty on an impeccable, low maintenance corner lot is walking distance to Lake Park, Tot Lot & highly rated 10/10 Bridges Elementary. Graced with natural light, this expansive, open floor plan flows from a private courtyard w/ open slider to the stacking glass wall leading to a custom designed patio and pool area. An entertaining lifestyle is afforded w/ a bar/beverage center & chef's kitchen w/ expanded, high end cabinetry, double ovens, gas range & large walk-in pantry. A granite/stone finished island & breakfast area overlook the backyard, resort-style haven. THIS backyard is the essence of an Arizona Outdoor Lifestyle! Listen to 3 linear waterfalls in your zero entry, heated pool or dine al fresco

Listed with Russ Lyon Sotheby's International 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/!


$4,200,000 :: 47 N SKI Court, Gilbert AZ, 85233

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4 beds, 4 baths
Home size: 5,658 sq ft
Lot Size: 20,038 sq ft
Added: 06/25/22, Last Updated: 06/25/22
Property Type: Single Family
MLS Number: 6408482
Community: CRYSTAL POINT ESTATES AMD LOT 1-20 TR A-H
Tract: CRYSTAL POINT ESTATES AMD LOT 1-20 TR A-H
Status: Active


Stunning Contemporary Luxury Home in prestigious Crystal Point Estates is now available for private showings. This gorgeous home is named by the owner Casa Motu, which means - House of the Private Island and is located in a Gated & Private Water Ski Lake Community in Gilbert, Arizona. If you are dreaming of living a resort style lifestyle on the water, this is the home and community for you! It's a lifestyle like no other! Perfectly situated it is convenient to Sky Harbor Int. Airport, Phoenix Gateway Airport, Chandler Air Park, major malls, golf resorts. freeways 60, 202 & 101, & so much more ! With 4BRs+4 BRs and 5860 sq ft and a negative edge pool w/Spa, this east facing backyard has the most gorgeous water views on the lake. Big mention:: No homes across the lake & No home north side!

Listed with Coldwell Banker 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/!


$925,000 :: 552 N MONDEL Drive, Gilbert AZ, 85233

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4 beds, 2.5 baths
Home size: 3,552 sq ft
Lot Size: 8,712 sq ft
Added: 05/09/22, Last Updated: 06/10/22
Property Type: Single Family
MLS Number: 6396914
Community: PLAYA DEL REY AMENDED
Tract: PLAYA DEL REY AMENDED
The price of this listing was last reduced on 5/31/2022 by 8%
Status: Active


Luxury waterfront home in Gilbert's exclusive Playa Del Rey Estates. This lake community oasis features 4 bedrooms 2.5 baths. Master bedroom has own private level that boast balcony/patio with view of the lake. Many features and updates, 3 car gar, play pool, water softener, fruit tree. Superior granite counter tops, top of line Viking appliances, low flow toilets, executive office including mahogany built in bookshelf and desk. PRICE ADJUSTMENT...MOTIVATED SELLER !!!!!!!

Listed with Call 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/!


$1,048,900 :: 1114 E CULLUMBER Street, Gilbert AZ, 85234

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4 beds, 3.5 baths
Home size: 2,970 sq ft
Lot Size: 6,970 sq ft
Added: 05/28/22, Last Updated: 06/06/22
Property Type: Single Family
MLS Number: 6407922
Community: SOUTHERN SHORES AT WIND DRIFT LOT 1-33 TR A B
Tract: SOUTHERN SHORES AT WIND DRIFT LOT 1-33 TR A B
The price of this listing was last reduced on 6/6/2022 by 5%
Status: Active


Prepare to be amazed! Come and see this completely remodeled 4 bed, 3.5 bathrooms, waterfront residence now for sale in the Lake Community of Wind Drift! Upon entering you will find soaring ceilings, a 1st floor guest bedroom and a large office/flex space w/mini split. This home has a spacious great room with pre-wired surround sound and luxurious 24x24 tile floors. The elegant kitchen displays custom white cabinets, tile backsplash, granite counters, dry bar, SS appliances, a large waterfall island, & a lovely bay window looking out to the lake. The large master bedroom includes balcony access, an upscale bathroom w/2 vanities, a standalone tub, & walk-in closet. This home also features a media/game room as well as air conditioned garage/work out area/workshop! This home has it all!

Listed with HomeSmart


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


$699,000 :: 731 S PUEBLO Street, Gilbert AZ, 85233

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3 beds, 3 baths
Home size: 2,308 sq ft
Lot Size: 10,455 sq ft
Added: 05/28/22, Last Updated: 05/28/22
Property Type: Single Family
MLS Number: 6407779
Community: WHISPER GROVE LOT 1-60 TR A-D
Tract: WHISPER GROVE LOT 1-60 TR A-D
Status: Active


Beautiful Home Back to Lake with View Fence The house is Completely Remodeled Throughout with Quality Upgrades,Kitchen has Granite Counter with back splash and Black Stainless Appliances ,Laundry Room Plus all 3 baths have granite Counter tops,Master Bath has Luxurious walk in shower ,Porcelain 24X24 Tarsus Grey polished Tile Throughout Carpet in master Bedroom ,Vaulted Ceilings design,Wood Shutters on all windows Plus Sun Screens .Garage has built in Cabinets Plus Storage Racks,Enjoy the gorgeous back yard with Syntheic Grass with putting greens ,Basketball Court,Newly redone Pool with built in waterfall with slide .plus 3-citrus trees. New AC , Owner/Agent

Listed with Perfect Choice 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/!


$1,199,000 :: 1211 N REGATTA Drive, Gilbert AZ, 85234

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4 beds, 3 baths
Home size: 3,342 sq ft
Lot Size: 9,584 sq ft
Added: 03/29/22, Last Updated: 05/09/22
Property Type: Single Family
MLS Number: 6375573
Community: REGATTA AT VAL VISTA LAKES
Tract: REGATTA AT VAL VISTA LAKES
The price of this listing was last reduced on 5/9/2022 by 4%
Status: Active


Pickleball anyone? SPECTACULAR VIEW STRAIGHT DOWN THE LAKE FROM THIS WATERFRONT CUSTOM HOME IN MUCH SOUGHT AFTER VAL VISTA LAKES ** gated community ** Primary bedroom plus another bedroom are downstairs ** 2 large bedrooms and a large loft are upstairs** The view from this home is one of the best water views you can find ** Island kitchen and granite counters, loads of cabinets and a gas stove, plus a large pantry ** Primary suite has 2 walk in closets ** Oversized garage doors, and attic storage with ladder ** 3 air conditioning units replaced in 2017 ** Val Vista Lakes has 8 tennis courts, indoor racquetball courts, pickleball, workout room, weight room, banquet room, swimming pool, jacuzzi, man-made beach, and so much more **

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/!


$575,900 :: 1025 W PENINSULA Drive, Gilbert AZ, 85233

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4 beds, 3 baths
Home size: 2,787 sq ft
Lot Size: 10,019 sq ft
Added: 12/05/20, Last Updated: 01/27/21
Property Type: Single Family
MLS Number: 6156476
Community: WINDHAVEN
Tract: WINDHAVEN
Status: Active


BEST PRICED WATERFRONT ISLAND HM.N/S.EXP.OVER 10K SF WATERFRT VIEW LOT W/94 FEET OF WATER FRONT & APPROX.120FT DEEP LOT.PRVT DOCK BRIGHT&OPEN.FORMAL LVG;DININGNOOK+FR.VAULTED CEILING.UPDATED FLOORING;GRANITE COUNTER KITCHEN CABINETS;WHITE WOOD SHUTTERS.SECURITY DRS@ENTRY&BACK PATIO DBL FRENCH DOOR. OVER-SIZED COV'D PATIO.WET BAR W/GRANITE COUNTER.ALL BATHS HAVE BEEN REMODELED.MASSIVE MASTER BR W/HIS&HER'S CLOSETSSEP.TUB/SHOWER.2 SINKS W/SPACIOUS COUNTER SPACE&STORAGE.DBL FRENCH DOOR W/SEC.IRON GATE WALK ON TO PVT WATER FRONT VIEW DECK FOR YOUR LEISURE MORNING RELAXATION -THEN RETURN TO ENJOY THE INCREDIBLE ARIZONA SUNSET-LIFE IS JUST PERFECT HERE. HURRY! CALL NOW FOR YOUR PRIVATE TOUR ARRANGEMENT. MUST SEE TO APPRECIATE. MASKS REQUIRED WHILE ON THE PREMISE.

Listed with FDR 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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