Median House Prices Defined
`Median price’ is a term that you hear a lot about when people are talking about house prices but what exactly does it mean?
The median value with any figures is the middle value in that range of figures so the median value in the set of figures 5, 7, 12, 15 and 16 is 12 – it’s simply the middle figure.
When people are using this information in connection with property, they are simply talking about the middle price of all the houses sold in the area and timeframe being monitored.
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