Mark 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 Estate
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:
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.
So 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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$659,000 :: 1353 W CRYSTAL SPRINGS Drive, Gilbert AZ, 85233
3 beds, 2.5 baths
Home size: 2,150 sq ft
Lot Size: 3,921 sq ft
Added: 09/21/23, Last Updated: 09/21/23
Property Type: Single Family
MLS Number: 6606304
Community: CORAL POINT REPLAT LOT 1 & 2
Tract: CORAL POINT REPLAT LOT 1 & 2
Status: Active
Embrace this newly remodeled Home. New luxury vinyl plank flooring throughout. American maple white cabinets, quartz counters with walk-in pantry. Both bathroom have matching cabinetry ,tile and countertops keeping the symmetry of the home. Tile patio deck. Cozy loft with skylight. Roof and skylight proximately five years old .Both AC units are 3 years old. Roof and AC units have a 10 year warranty. Water heater two years old updated windows. New Whole House water softener. HOA dues include the lakeside community pool, front & back yard landscaping and painting the house every 7 years.
Listed with Real Broker AZ, 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/!
$1,635,000 :: 1507 E TREASURE COVE Drive, Gilbert AZ, 85234
3 beds, 3.5 baths
Home size: 3,633 sq ft
Lot Size: 14,375 sq ft
Added: 08/30/23, Last Updated: 09/20/23
Property Type: Single Family
MLS Number: 6596878
Community: West Lake Estates of Val Vista Lakes
Tract: West Lake Estates of Val Vista Lakes
The price of this listing was last reduced on 9/20/2023 by 3%
Status: Active
Welcome to this stunning single-level home nestled in the coveted Val Vista Lakes community in Gilbert, AZ. With picturesque waterfront views, this home offers the epitome of tranquil lakeside living. Boasting 3 bedrooms and 3.5 bathrooms, this meticulously designed home provides both elegance and comfort. The open-concept living area showcases ample natural light, highlighting the captivating lake views from various angles.A gourmet kitchen awaits, featuring modern appliances, granite countertops, and an island that's perfect for both meal preparation and casual dining.The primary bedroom suite is a retreat in itself, boasting panoramic lake views and direct access to the outdoor patio. The en-suite bathroom is a sanctuary of relaxation, equipped with dual sinks, a luxurious
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/!
$629,000 :: 1413 W CLEAR SPRING Drive, Gilbert AZ, 85233
3 beds, 3 baths
Home size: 1,797 sq ft
Lot Size: 4,356 sq ft
Added: 09/16/23, Last Updated: 09/20/23
Property Type: Single Family
MLS Number: 6602973
Community: CORAL POINT REPLAT LOT 1 & 2
Tract: CORAL POINT REPLAT LOT 1 & 2
The price of this listing was last reduced on 9/20/2023 by 2%
Status: Active
Fantastic lakefront opportunity priced to sell!! This amazing home offers 3 bedrooms 3 baths. Fish or boat from your very own backyard! This lakeside community provides access to parks, walking trails, and a community pool and spa to enjoy. With easy access to shopping, dining, and entertainment options, you'll have everything you need within a short drive.
Listed with Real Broker AZ, 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/!
$1,550,000 :: 1232 W EDGEWATER Drive, Gilbert AZ, 85233
5 beds, 3.5 baths
Home size: 4,032 sq ft
Lot Size: 10,019 sq ft
Added: 09/15/23, Last Updated: 09/16/23
Property Type: Single Family
MLS Number: 6605570
Community: CATALINA BAY AT THE ISLANDS UNIT 4
Tract: CATALINA BAY AT THE ISLANDS UNIT 4
Status: Active
**FULLY RENOVATED WATERFRONT HOME** Located in the highly sought-after Islands community of Gilbert, this home has undergone a breathtaking remodel from the inside out. From the moment you arrive, you'll be captivated by the stunning curb appeal and the serene water views. This is a once-in-a-lifetime opportunity to own a truly exceptional home in a remarkable location. **See docs tab for a full list of upgrades including: artificial turf in the back/front yards, fresh interior/exterior paint, all new flooring, high end appliances, waterfall quartzite countertops, shaker cabinets, contemporary tile, recessed lighting, elegant chandeliers, and so much more! 3 Car garage w/4th bay + Golf Cart Parking. This exceptional property offers not just a home, but a lifestyle. Make it yours today!
Listed with Real Estate Brokers of Arizona
Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!
$2,000,000 :: 1750 E COCO PALM Court, Gilbert AZ, 85234
4 beds, 4 baths
Home size: 3,421 sq ft
Lot Size: 12,197 sq ft
Added: 05/26/23, Last Updated: 09/16/23
Property Type: Single Family
MLS Number: 6560481
Community: LAKESIDE AT VAL VISTA LAKES
Tract: LAKESIDE AT VAL VISTA LAKES
The price of this listing was last reduced on 9/16/2023 by 5%
Status: Active
Sophistication and style meets waterfront. Elegant single level living await you in this beautifully updated home. Expansive lake views from this lot on the point allow for privacy in the pool and spa. Entire wall of glass slides open giving you large spaces to entertain from the outdoor to indoor kitchen and dining areas. Dreamy kitchen with Thermador 8 burner gas burner stove & dual ovens, Thermador side by side refrigerator and large island with seating for 6. Need Storage? This house has it! Large open family room, dinette & kitchen. All ensuite bedrooms have walk-in closets. Enjoy the outdoor lifestyle with the covered outdoor kitchen that includes a green egg smoker and gas bar-b-que. Heated pool and spa with negative edge so you can soak up the sun with friends or soothe those
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/!
$1,690,000 :: 1726 E QUEEN PALM Drive, Gilbert AZ, 85234
5 beds, 3 baths
Home size: 3,134 sq ft
Lot Size: 11,326 sq ft
Added: 09/14/23, Last Updated: 09/14/23
Property Type: Single Family
MLS Number: 6599248
Community: VAL VISTA LAKES
Tract: VAL VISTA LAKES
Status: Active
This custom home was exquisitely designed to make lasting memories and for all to enjoy. Situated on a premier waterfront lot with stunning views across the main, multi-use lake in one of the Valley's highly coveted master-planned community, Val Vista Lakes. Enjoy using your own private dock and pontoon. Holidays are one-of-a-kind with homes & boats lighting up the lake. This lifestyle community offers activities & events for everyone's interests. Val Vista Lakes features 900 acres of sports parks, bike paths and luxurious clubhouse. The clubhouse includes tennis, pickle-ball, indoor racquetball courts, cardio & weight training facilities, junior Olympic swimming pool & spa, banquet & meeting rooms, waterfalls, tropical lagoon swimming pool with a sandy beach. Enjoy your
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/!
$1,350,000 :: 2004 E CATAMARAN Drive, Gilbert AZ, 85234
4 beds, 3.5 baths
Home size: 4,038 sq ft
Lot Size: 14,375 sq ft
Added: 05/27/23, Last Updated: 09/07/23
Property Type: Single Family
MLS Number: 6558805
Community: The Regatta at Val Vista
Tract: The Regatta at Val Vista
The price of this listing was last reduced on 9/7/2023 by 4%
Status: Active
Custom waterfront home on the Regatta Lake. Beautiful property on a large lot in gated Val Vista Lakes subdivision. 4 -car garage with a large driveway in a cul-de-sac makes this a one-of-a kind !
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/!
$797,000 :: 1248 W EDGEWATER Drive, Gilbert AZ, 85233
5 beds, 3 baths
Home size: 2,719 sq ft
Lot Size: 7,841 sq ft
Added: 05/11/23, Last Updated: 09/01/23
Property Type: Single Family
MLS Number: 6550410
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 9/1/2023 by 3%
Status: Active
SPECTACULAR WATERFRONT LOCATION WITH OUTSTANDING VIEWS ! This property is tucked away in a quiet Cul-De-Sac on a North South facing lot. There are 5 bdrms and 3 baths. The master bedroom is oversized with a full length patio overlooking the lake & 2 closets. . Relaxing great room includes a cozy fireplace & great views of the backyard. It's all LAKE in the backyard. You'll never want to leave! There's a large community park within walking distances that includes lots of social events including Concerts in The Park, Easter Egg Hunt, Holiday Boat Parades, fall Car Show & more! You'll truly love this home & community. It's centrally located and just minutes away from downtown Gilbert and Chandler. Both have an abundance of restaurants & things to do for all ages. Both AC units 3 yrs old
Listed with Real Broker AZ, 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/!
$1,100,000 :: 1031 S CORAL KEY Court, Gilbert AZ, 85233
4 beds, 2.5 baths
Home size: 3,126 sq ft
Lot Size: 12,633 sq ft
Added: 08/16/23, Last Updated: 08/16/23
Property Type: Single Family
MLS Number: 6589216
Community: KEY HARBOR LOT 1-71 TR A-C
Tract: KEY HARBOR LOT 1-71 TR A-C
Status: Active
A great opportunity to own a rare lake front home in Gilbert, Arizona. It is currently a vacation rental with over $200,000 in revenue in the last 24 months. This nearly one third acre property is nestled in a quiet cove within The Islands. On the main level you will find an expansive kitchen with granite countertops, downstairs master suite with a beautiful view of the water, lovely fireplace center of the living room, and a laundry room attached to the three car garage. Upstairs there is one large bedroom overlooking the lake, full bathroom, two more bedrooms, as well as an office space. Outside opens up to an enjoyable entertainment area that leads you right to the pool, spa, lake, and boat docks. The private side yard also has a large chipping and putting green. Don't miss out!
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/!
$575,900 :: 1025 W PENINSULA Drive, Gilbert AZ, 85233
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/!