Average vs. Medial Home Prices
Yes there is a difference. Here is the definition from the article, “Median is the number that is the midpoint of the sample, or the central point of a set of data. To find the median, you would list all the data points and simply pick the entry in the middle of the list. Average, on the other hand, is the sum of all values in sample divided by the number of values.”
The reason I really liked this because you have to that averages can be misleading where median is a real midpoint. Make sure to check out the paragraphs on the National Association of Realtors and the Federal Housing Finance Agency, and how their numbers are misleading.