Cracking the Housing Price Code: Average vs. Median – What You Need to Know
1. Average home price is the sum of all house prices in a given area divided by the total number of houses.
2. Median home price is the middle price in a list of house prices, with half of the prices being lower and half higher.
3. Knowing the difference is crucial when evaluating property listings or talking to real estate agents.
4. Statistics on average and median prices can vary, and understanding them is vital for informed decision-making.
5. Don’t let misconceptions about these numbers hinder your house-hunting journey.
