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Calgary Median Price vs. Average Price

Calgary Median Price vs. Average Price

Median Price Another statistic that is good to track is the median price. This allows us to know better what the market is doing from month to month is a specific community or the market as a whole. The median price is the middle price point excluding the highest sale and the lowest sale. Average Price The media often uses the average price which is not a great indication of the current market. The media seems to love the average price due to its swings from month to month or week to week. It is a slight indication of market trends but only a small snapshot of the whole picture. An average price can be lower or higher depending on what property has sold that month. Sometimes in a stronger buyers market, higher priced homes will move more often because buyers may invest in higher priced properties because they are taking advantage of the market and their dollars will go further. So this would increase the average price,, while when sales occur more often inside any given month, the average price would be lower. As you can see this is not a true reflection of the market rather a reflection of the price point of those homes that were sold during that particular month. Below is a graph detailing the Average Price vs. Median Price for Single Family Detached homes over the course of the last year:

Average vs Median Price - Single Family Homes

Below is a graph Detailing the Condo Average Price vs. Median Price for the same period of time:

Calgary Condo Average Price vs. Median Price

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