Average Vs Median Explained
Average Vs Median Explained
Average: The average is calculated by adding up all the individual values and dividing this total by the number of observations.
Median: The median is calculated by taking the “middle” value, the value for which half of the observations are larger and half are smaller.
Why the median sale price is generally better to use than the average sale price.
Suppose that five homes sold in the same area and time frame with the following prices: $450,000, $460,000, $470,000-(median), $480,000, and $680,000.
The median (middle) sale price is $4700,000, while the average price is (450,000 + 460,000 + 470,000 + 480,000 + 680,000) / 5 = $508,000. In this instance, the single high-priced home pulled up the average price well above the prices of the more typical homes in the market. Thus, the median price provides a better measure of the typical value of a home sold in the same area and time frame.
Don’t forget that adding and subtracting value for features and location are also important. For example, if a house has a pool, it may add $25,000 or more to the value as compared to a like kind and quality home without a pool.
Testimonials
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The Levine team went above and beyond my expectations. Im so grateful for they're professionals and persistent to complete the sale
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- Joseph Burt
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The Levine team is always so helpful!! This is the second time we’ve used them and they went above and beyond per usual.
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- Amy Mullis
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Very knowledgeable realtors who were very helpful.
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- Tyree Jackson
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They are the best!
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- Corey
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The Levine team were very helpful explaining the process as first time buyers. They went above and beyond to ensure the deal went through. Very grateful to the Levine team and Berkshire Hathaway Troth office for their hard work to get us to home ownership. Will definitely recommend to others.
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- Maegen Mowry
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Danny Levine and his team are very knowledgeable and professional. They responded quickly to my questions and kept me up to date from start to finish. I would highly recommend them and would use them again in the future.
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- Kris De Jesus
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Wonderful service,great communication. Very down to earth,greatpeople.
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- Danelle Neisius-Yates
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Yes, I would definitely recommend Danny Karie Kourtney Levine to friends & family. Excellent and very professional!
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- Kathie Ruiz
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We are pleased to write a review for the Danny, Karie, and Kourtney Levine Berkshire Hathaway realtors. They went beyond our expectations as realtors. They helped in countless ways that were valuable to us. Polite, helpful, and knowledgeable are a few of the many traits we experienced. Happy to have dealt with them and would highly recommend their team. We are thankful for their excellent service. Lonnie and Arla Cooper
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- Arla D Cooper
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The Levine team was great! So thankful for all the hard work they put in selling our property! 10/10 recommend 🫶🏼
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- Mia Grinnell
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The Levine team made selling our home much easier than we had imagined. Not only were they successful in selling our home in a timely manner, but they were also in contact with the sellers of the property we were purchasing throughout escrow. If not for this assistance, the escrow on our new home would have fallen through. We are thoroughly satisfied with the professional service we received.
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- William C Waite
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Very hard working and on top of things every step of the way. Experts in their field, second to none!
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- David J Gass
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The Levine Team was outstanding throughout our relocation process. Since I had already left Lancaster and was only available for part of the transaction, I truly appreciated their responsiveness and commitment. They maintained constant communication, kept everything on track, and were always ready to help—no matter the time or challenge. Their professionalism and dedication made a potentially stressful process feel smooth and well-managed. I highly recommend the Levine Team to anyone looking to buy or sell in the Lancaster area.
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- Garo Panossian
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The Levine team were excellent at what they do. From start to finish of selling my home, they took over and made everything seem easy. As soon as I got an e-mail to sign documents I would receive a call making sure I understood what the documents were and answer any questions I had. I was updated on any info they would receive as they received it even while traveling across the country. It was a stress free experience and I would recommend the Levine team to all who need a reliable stress free realtor service.
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- Andrew W Carnevale
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Wonderful service. Thank you all again
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- Danelle Neisius-Yates
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The Levine Team have helped us numerous times, most recently with a sale of a large investment property. They consistently provide exceptional service with genuine care, great communication, and expert guidance. Beyond the power trio that are Danny, Karie, and Kourtney, they have a team of vendors that reflect their same values, making it easy for us to have the house updated and refreshed for sale all while we lived out of state. I trust them implicitly and have recommended them to family members who received the same phenomenal service.
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- Nina A Gass
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The Levine Team helped with the sale of my home from start to finish; they sold it quickly, even during a rough time to sell, and helped get top dollar. With 3 of them on the team, It was amazing to always be able to reach someone when I had questions, and they made the process as easy as possible! Danny, Karie and Kourtney are not only knowledgeable and professional, but also friendly, fun and great to deal with! This is a huge plus since the process required a lot of interaction. They also have an amazing photographer/videographer and use such creative ideas when making the home videos. I got so many comments on how my home’s listing really caught attention. The Levine Team came to me highly recommended and I would definitely pass along that recommendation to anyone looking for the best in the business! Thank you Levine Team!
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- Jill Gibson
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Outstanding! A pleasure to work with! The Levine Team managed every aspect of the rehab of our trust property. The transformation yielded a net of $50K more than we would have had under the previous real estate agent. I was particularly impressed by the team’s willingness to go above and beyond the call of duty, and by Danny Levine’s level of experience and technical knowledge .
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- Helen I Selph
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They were fantastic every step of the way. Great group, great family unit! You really couldn't ask for more.
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- Lizabeth Berg
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On top of things every step of the way, going beyond our expectations. True experts in their field, second to none. Very knowledgeable about the process with their team of contractors to get everything taken care of in a very timely manner.
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- dave4534
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The Levine Team was outstanding throughout our relocation process. Since I had already left Lancaster and was only available for part of the transaction, I truly appreciated their responsiveness and commitment. They maintained constant communication, kept everything on track, and were always ready to help—no matter the time or challenge. Their professionalism and dedication made a potentially stressful process feel smooth and well-managed. I highly recommend the Levine Team to anyone looking to buy or sell in the Lancaster area.
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- Garo Panossian
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The Levine Team from the very beginning walked and talked us thru every step. It was a long taxing process due to a Buyer Agent and Agents Lender. I'm grateful for Danny and Karie for not giving up. It was a long hard journey and I'm thrilled to know they were with us every step to calm our nerves. Thank You Levine Team!!!!!
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- Dereck Morse
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After months and months with a motivated buyer but less than motivated lenders we were finally able to close escrow and complete the deal. The Levine Team never left us and stayed at our side through the end. We will forever be grateful for their support, knowledge and professionalism.
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- Christopher P French
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We just sold our property and were very pleased with their professionalism and handling all of the details. It all went very smoothly.
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- stellar
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The hole team went out of there way to make sure the hole process went as smooth as possible. They doubled checked everything and made sure they had my interests in mind. Always responding in a timely manner.
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- Dillon McDonald
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The Levine Team — Danny, Karie, and Kourtney were absolutely amazing to work with! They kept me informed every step of the way and made the whole process completely stress-free, even though I was out of state. Their communication, professionalism, and genuine care went above and beyond my expectations. I truly felt like they had my best interest at heart the entire time. I couldn’t have asked for a better team — highly recommend them to anyone buying or selling a home! 🥰🏡
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- Shannon Huerta
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Great team to work with! They went above and beyond
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- Bryan Salas
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The Levine Team did an excellent job from beginning to the end of selling our property. This includes marketing, disclosures, advice, escrow, and closing.
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- Russell L Smalstig
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I honestly can’t recommend Danny, Karie, and Kourtney enough! Working with them at Berkshire Hathaway HomeServices Troth, Realtors made what could have been a super stressful process feel like a breeze. What really stands out is how well they work together as a team you’re not just getting one agent you’re getting three people who genuinely care and stay on top of every little detail. They were always quick to answer our questions and really knew the local market inside and out. If you're looking for a group that is professional, honest, and actually listens to what you need, this is definitely the team you want in your corner. We couldn't be happier with the results!
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- Brian Deshon Thomas
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We are pleased to write a review for the Danny, Karie, and Kourtney Levine Berkshire Hathaway realtors. They went beyond our expectations as realtors. They helped in countless ways that were valuable to us. Polite, helpful, and knowledgeable are a few of the many traits we experienced. Happy to have dealt with them and would highly recommend their team. We are thankful for their excellent service. Lonnie and Arla Cooper
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- Elvin Cooper
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They are the best!
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- Corey
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I have used the Levine team to both purchase and later sell my first home. Both times, they explained the process clearly, listened to my concerns, and answered my questions. When I purchased the home, I was living in another state. Because they are experienced and hightly competent, they made the purchase as easy as it could possibly be. These are hard-working, honest people, and if I ever move back to California, they will definitely be my realtors!
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- Kevin Crook
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