Real Estate Investing Glossary
Median price
Median price is the middle sale price in a set of sales, with half of the sales above it and half below.
Median price is the middle sale price in a set of sales, with half of the sales above it and half below. It is used to describe a market's typical price level.
Why it matters to a Las Vegas investor
The median is less distorted by a few very high or very low sales than an average, which makes it a steady yardstick for a Las Vegas area. It describes a market overall, not any one home.
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Questions about Median price
Is median price the same as average price?
No. The average adds all prices and divides, while the median is the middle value.
Does median price describe the homes an investor targets?
Not necessarily. Market-wide figures cover all homes, while an investor may target a narrower profile.