Average vs Median? San Diego Coastal Prices 🏡 #realestate #sandiego #homeprices

Median vs Average Hone Price?🏡

The Difference Between the Median Sale Price and Average Sale Price ⬇️

▶️ The Average sale price is calculated by adding all the sale prices for homes sold in a specific area within a specified time frame and dividing that total by the number of properties sold.
The problem 🌟with the average sale price is that if one or more properties were sold at an extraordinarily high or low price, the average is skewed higher or lower as a result. In this case, the average becomes a somewhat unreliable metric.

▶️ The🌟 Median sale price, on the other hand, is the sale price in the middle of the data set when you arrange all the sale prices from low to high. The median sale price, then, represents the figure at which half of the properties in the area sell at a higher price and other half at a lower price.

▶️ Is the Median Sale Price or Average Sale Price a Better Figure? ⬇️

▶️ Both the average sale price and median sale price can be valuable when you’re trying to determine how much you could expect to spend on a home in a particular area. It’s important to remember that the average sale price may be skewed due to outliers in the data (if a property has sold for a price far higher or lower than typical for the area).

Have Questions? ⬇️
▶️ Jennifer St.Clair Associate Broker
▶️ eXp Realty of CA
▶️ CA dre #01856341
▶️ 🌟858.405.8525🌟

Видео Average vs Median? San Diego Coastal Prices 🏡 #realestate #sandiego #homeprices канала Jennifer St.Clair, Real Estate Advisor