Definition of "Median"
The midpoint in a range of numbers. For example, the median (middle value) of a house in Nassau County on Long island in New York is $150,000. By using median values, a prospective buyer or seller of a home may have a better idea as to whether the price being asked in the neighborhood is reasonable.
Popular Real Estate Terms
Rental income received from property that exceeds the costs of owning and maintaining the property. ...
An opening that lets the outside air come in or out of a structure. A ventilation fan lets the structure have access to outside air when the switch is in open position. ...
Another residence in addition to the main residence where a person or family resides. An example is a second home out of the city used on weekends and during vacations. Interest and real ...
To secure a listing by a real estate agent for a certain parcel of property. For example, a real estate broker wishes to list as many properties a possible to built an inventory of future ...
Amount the taxpayer gets back when he or she files the tax return at the end of the reporting year because taxes were overpaid for that year. The tax overpayment equals the tax payments ...
Linear measurement of property abutting a road or water body acting as a boundary market. ...
Sewer whose sole purpose is o carry away domestic waste water. ...
Branch of economics that is concerned with the study of factors that explain, and policies that promote, regional economic growth and development. Regional economic factors affect ...
Extended area of land commonly held for subdividing and development into residential units. ...
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