Median1


Definition of "Median"

Michael Badeaux
Michael Badeaux Wilkinson ERA

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.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Median New Second-home Price

Medium price for a new second home. Medium is the middle value between the lowest and highest figures. ...

Median

Statistical term indicating the central value of a frequency distribution, such that smaller and greater values than this central value occur at an eq ...

Home Affordability Index

Measure of the typical U.S. family's ability to buy a home, published by the National Association of Realtors. When the Index measures 100, a family e ...

Syndication

Way of selling real estate in which a syndicator sells equity interests to investors. Examples include a real estate investment trust, limited partner ...

Principal

person designating an agent to act for him. Primary individual having full financial liability. Amount being risked in a real estate investment ...

Ambulatory

Covered passage or sheltered area within the walls or a building, or between the columns and walls of a circular building. ...

Popular Real Estate FAQ

What Is Flood Insurance?

Flood insurance is insurance that compensates for the physical property damage resulting from rising water. ...

What Is Accession?

The right of a property owner to have and enjoy all of the advantages of property ownership including air right, mineral rights, riparian rights, and ...

What Is A Multiple Listing Service (MLS)?

A multiple listing service is a computerized listing of the homes for sale in an area listed with a realtor. Agents are granted access to the MLS and ...

What Is A Title Search?

A title search is the process of reviewing court records and other records to ensure that there are no liens or claims against the property you are bu ...

What Is An Inspection?

An inspection is a close and thorough examination of a house and property. A licensed individual usually does the inspection. ...

What Are Prepayment Penalties?

A penalty fee charged for paying off a mortgage early, thus allowing banks to still make money off of the loan in the event that you inherit a small f ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Down Payment: Everything You Wanted to Know Luxury Real Estate Forecast Furnished Rental Tips for Real Estate Investors How to Buy a House Quickly What is a Credit Score and How Does it Impact Real Estate?

FAQ

What are the benefits of Commercial Auto Insurance? How Much Income Do I Need ? What is a balloon mortgage? How much Life Insurance do I need? What is a REALTOR®?