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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$999,999 :: 2111 E GONDOLA Lane, Gilbert AZ, 85234

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4 beds, 3 baths
Home size: 2,505 sq ft
Lot Size: 10,455 sq ft
Added: 09/02/22, Last Updated: 11/25/22
Property Type: Single Family
MLS Number: 6459011
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 11/25/2022 by 9%
Status: Active


Absolutely gorgeous, waterfront, single level, North/South facing custom home perfectly situated in the highly desired gated community of Regatta at Val Vista Lakes. Luxury vinyl flooring throughout. Herringbone tile backsplash in the kitchen. Stunning quartz countertops in the kitchen/bathrooms. Raised vanities in all 3 bathrooms. Custom upgraded tile in all the shower/bath areas. Unique and fun loft for a bonus room. Sparkling pool overlooking the breathtaking lake. 3 car garage including epoxy flooring and built-in cabinets. Cul-de-sac lot. Val Vista Lakes features a multi-million-dollar clubhouse and all its amenities such as the beautiful waterfalls, junior Olympic heated pool, beach laguna pool, jacuzzi, cabana's, ramada's, 8 outdoor tennis courts, 3 racquetball rooms, locker rooms,

Listed with Realty Executives


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


$999,000 :: 1910 E BAY TREE Court, Gilbert AZ, 85234

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4 beds, 2 baths
Home size: 2,493 sq ft
Lot Size: 11,326 sq ft
Added: 08/27/22, Last Updated: 11/16/22
Property Type: Single Family
MLS Number: 6428629
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
The price of this listing was last reduced on 11/3/2022 by 5%
Status: Active


Buyer did not qualify ** Highly desirable gated Lakeside Community single level custom waterfront home in Val Vista Lakes ** Spacious entry leads to living room and dining room ** Kitchen features granite counter tops with seating at island, stainless steel appliances, custom wood cabinets and bay window eating area for views of pool and lake ** Remodeled master bathroom features heated floor , huge tiled walk in shower , and vanity seating area ** Walk in closet with shelving for your shoes and great views of swimming pool and lake ** Wall of windows in kitchen/family room overlooks covered patio, beautiful swimming pool and lake ** Large dock for boating or kayaking to clubhouse to swim at the sandy beach pool ** Other extras include solar panels, and new windows on north side of home

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/!


$949,000 :: 1560 W COMMERCE Avenue, Gilbert AZ, 85233

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3 beds, 3 baths
Home size: 2,861 sq ft
Lot Size: 9,584 sq ft
Added: 10/08/22, Last Updated: 11/14/22
Property Type: Single Family
MLS Number: 6474273
Community: PLAYA DEL REY AMENDED
Tract: PLAYA DEL REY AMENDED
The price of this listing was last reduced on 11/14/2022 by 5%
Status: Active


WATER SKI LAKE FRONT PROPERTY!!, The only home on ARMLS on the water ski lake in the gated community of Play Del Rey. This update to the interior of this home was just completed, new flooring, SS appliances including a new built-in ice maker, trash compactor, microwave, smooth top range, built-in oven and dishwasher. New light fixtures and more. Amazing views across the back of the home of the negavite edge pool with hot tub, fire pots and built in BBQ perfect for entertaining. Ski year round right from your back yard with direct access to the lake from your backyard. 3 car garage with builtin cabinets for lots of storage.

Listed with Kenneth James 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/!


$1,100,000 :: 1302 N CRYSTAL SHORES Drive, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 3,322 sq ft
Lot Size: 10,019 sq ft
Added: 07/15/22, Last Updated: 11/11/22
Property Type: Single Family
MLS Number: 6432185
Community: CRYSTAL SHORES AMD LOT 1-82 TR A-I
Tract: CRYSTAL SHORES AMD LOT 1-82 TR A-I
The price of this listing was last reduced on 11/11/2022 by 8%
Status: Active


Without a doubt - THE BEST DEAL IN GILBERT! The kitchen is an entertainer's dream! Wolf gas stove, Sub-Zero refrigerator, dual Bosch dishwashers, large walk-in pantry, gorgeous granite countertops and huge island with double beveled edge. Kitchen opens out to the main living space and extends to the backyard, covered patio and outdoor kitchen bar area. Gated spool and gated lot provide additional security. Relax on your private balcony off the main upstairs suite and watch a beautiful sunset.This home is a short boat ride or walk to the community clubhouse where you can play a game of pickleball, racquetball, or tennis, swim laps in the Jr Olympic pool or float in the sand lagoon. Resort living is yours with miles of walking paths, community gardens, play

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/!


$875,000 :: 572 E JANET Way, Gilbert AZ, 85297

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5 beds, 4.5 baths
Home size: 3,753 sq ft
Lot Size: 13,504 sq ft
Added: 11/03/22, Last Updated: 11/03/22
Property Type: Single Family
MLS Number: 6482929
Community: LAYTON LAKES PARCEL 1 2ND AMD
Tract: LAYTON LAKES PARCEL 1 2ND AMD
Status: Active


MOTIVATED SELLER! Your dream Oasis waits for you with this gorgeous home in Layton Lakes on a spacious 13,500 sq ft lot. This home boasts over 3700 sq ft and features 5 bedrooms, 4.5 baths as well as a loft and office/den. A large kitchen with a huge dining area, separate dining room, butler's pantry, oversized laundry with outdoor access, living room, and family room round out the downstairs offerings. The oversized three-car garage has been designed for storage and functionality with custom storage options including cabinets, storage racks, and slat wall. It also includes an outlet for an EV car charging station. Relax in the backyard in a 20x40 pool with a grotto water feature and above ground spa without the worry of having neighbors behind you. The neighborhood amenities

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/!


$1,545,000 :: 1901 E CYPRESS TREE Drive, Gilbert AZ, 85234

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5 beds, 4.5 baths
Home size: 5,196 sq ft
Lot Size: 11,326 sq ft
Added: 09/21/22, Last Updated: 10/13/22
Property Type: Single Family
MLS Number: 6465192
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
The price of this listing was last reduced on 10/13/2022 by 3%
Status: Active


Welcome to beautiful Val Vista Lakes featuring your remodeled lakefront dream home. 5 bed, 4.5 bath, 5,000+ sqft, 3 car garage plus a basement. New high-end Anderson windows, new flooring, new bathrooms and a stunning kitchen with large island and gorgeous views of the lake. Whether you want to enjoy a good workout in the gym, watch a movie in the theatre or do crafts in the craft room, this home has it all! The primary suite offers a sitting area, extra large bedroom and 2 custom walk in closets. Head outside to enjoy the grassy yard, pool and your very own boat dock. Taking sunset cruises will be your new favorite way to wind down. Come make 1901 E Cypress Tree your new Home!

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/!


$774,900 :: 501 E Hearne Way, Gilbert AZ, 85234

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4 beds, 3.5 baths
Home size: 3,020 sq ft
Lot Size: 7,406 sq ft
Added: 10/01/22, Last Updated: 10/01/22
Property Type: Single Family
MLS Number: 6471644
Community: Stonebridge Estates
Tract: Stonebridge Estates
Status: Active


Welcome to Stoneridge! Waterfront Home - Amazing views when you walk thru the front door to the lake, Open floor plan, soaring ceilings, Four bedrooms with 3.5 baths, Two owner suites, one up and one the main level. Main floor owner suite has access to the patio, large closets & the upstairs owner suite has it's own private balcony overlooking the lake. Chef's delight kitchen with stainless steel appliances, granite countertops, walk in pantry, separate dining room/living and eat in kitchen, & amazing views of the lake. The family room has a wood burning fireplace to take the chill of on the cool winter evenings. Location, Location, Location - on the lake, walking distance to downtown. Complete home inspection done and repairs made prior to listing home! Check it out!

Listed with RE/MAX Excalibur


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 :: 754 S CATALINA Street, Gilbert AZ, 85233

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4 beds, 2.5 baths
Home size: 2,140 sq ft
Lot Size: 4,792 sq ft
Added: 07/23/22, Last Updated: 09/28/22
Property Type: Single Family
MLS Number: 6439143
Community: LAGO ESTANCIA
Tract: LAGO ESTANCIA
The price of this listing was last reduced on 9/28/2022 by 8%
Status: Active


Beautiful waterfront home in Gilbert, with hand-scraped wood and travertine flooring, granite countertops, glass tile backsplashes, vessel sinks, waterfall faucets and SS appliances. New AC and new Carpet!Out back you'll find a refreshing pool and outdoor fireplace. Very quiet community yet just minutes from Gilbert Old Town.

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/!


$995,000 :: 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: 09/27/22
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 9/27/2022 by 0%
Status: Active


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 **This beautiful home is ready for your client to move in.

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/!


$1,295,000 :: 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: 09/09/22
Property Type: Single Family
MLS Number: 6410225
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
The price of this listing was last reduced on 9/9/2022 by 7%
Status: Active


Enjoy premium lake views from this 4 bed + den with murphy bed, 3 bath home in gorgeous Lakeside at Val Vista Lakes. This waterfront home is perfect for relaxing and entertaining inside and out. 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. You can commute this lake to the club with Club amenities including 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. Close to upscale shopping, restaurants and entertainment.

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/!


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