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WHAT IS MEDIAN SALE PRICE

You have probably heard the average sale price or the median sale price. The difference is the average sale price is when you add all the prices together and divide by the number of sales. The median sale price is different. It is basically the middle sale price of all the homes sold. So if your neighbourhood had 5 recent sales at 200K, 225K, 250K, 300K and a big one at 500K the median sale price is the 250K house while the average sale price shows the neighbourhood at 295K. Median is typically a clearer picture of the typical house in the area.



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Ken Devoe is a licenced REALTOR in the Province of Alberta with Coldwell Banker Ontrack Realty serving Red Deer and all Central Alberta and a proud member of the Central Alberta Realtors Association. 

    Coldwell Banker Ontrack Realty  #103 232 Spruce Street Red Deer County T4E 1B4