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VLOG #103: Pay Attention to the Difference Between Median Vs Average Price

By Robert Altshuler, Esq. Founder | Managing Partner | Realtor®

The difference between median versus average price in the current Arizona real estate landscape is important to distinguish for best buying and selling decisions…

Median versus average price—seems simple enough but a surprising amount of consumers and agents get lazy when it comes to looking at home prices in a particular area, and don’t pay attention to the difference between median and average prices. In real estate, half of the homes in an area sell above the median and half of the homes sell below the median price. The average price adds up all the sales and divides them by the total number of sales.

Bottom line: In the current Arizona luxury market, extremely high-priced homes are significantly affecting the average price, which requires our team to analyze exactly what is happening in each particular neighborhood to advise buyers and sellers.

Interested in getting more real estate advice? Check out: VLOG #102: What You Should Know About The Rise In Wire Fraud

 

As the founder of Valley Luxury Partners, Robert represents discerning buyers and sellers of luxury real estate in select markets in Arizona.

Valley Luxury Partners is driven by a desire to preserve and protect the privacy of our clients throughout the entire real estate sales process. One might consider our founder, Robert, a triple threat. As a former wealth manager, commercial real estate attorney and real estate investor, he was particularly groomed for real estate sales. Robert leverages his deep experience and knowledge to confidently and discreetly guide his client’s luxury real estate needs.

 

©️2022 Valley Luxury Partners Real Estate (VLP). All Rights Reserved. Engel & Völkers Scottsdale is the employing broker of record for VLP. VLP and Engel & Völkers Scottsdale fully support the principles of the Fair Housing Act. Robert Altshuler is a licensed attorney in Arizona. Nothing in this blog should be construed as legal advice or creating an attorney client relationship. This blog is not intended to solicit properties already listed for sale or intended to cause a breach of an existing agency relationship.
By Robert Altshuler, Esq. Founder | Managing Partner | Realtor®