Median Sales Price Vs Average Sales Price

The average sale price is determined by totaling all the sale prices of homes sold in a specific area over a set time period and dividing by the number of properties sold. However, if a property or two sells at an unusually high or low price, it can distort the average, making it an unreliable metric in certain situations.
The median sale price is the price right in the middle of a dataset. It shows the point where half the properties in an area sell for more and the other half sell for less. This figure is a reliable way to track market trends over time.

Average and median sales prices are both useful methods for analyzing data, but they serve different purposes.

Gena Glaze