April 2009 Real Estate Statistics for Loudoun County

All Northern Virginia: Arlington County, Fairfax County, Loudoun County, Fauquier County, and Prince William County experienced a modest increase in prices during April, 2009 as compared to March, 2009 - see Median Price and Average Price in the tables.  

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  • May 17 2009 - Sterling
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Answers (5)

median price is not a good indicator, median can go up, while all the subject data go down. Wait for case shiller index data, that is the data that is worth caring about.
  • May 17 2009
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Both MADIAN and AVERAGE complement each other and both help paint a statistical picture.

Median is not as relevant when all the data/home prices are distributed evenly throughout the entire subdivision.

However, it is NOT always the case.

Take a subdivision of 7 homes where 5 homes are priced at $100K, 1 at $2 million, and 1 at $3 million.

Statistical AVERAGE would tell me that the average price of the home in that subdivision is $785,714, when nothing could be further from the truth.

Statistical MEDIAN would tell me that 50% of homes are priced below $100K and 50% of homes are priced above $100K.

In this case, using AVERAGE alone and using MEDIAN alone would reveal nothing about the makeup of this neighborhood.

However, when used together this two statistical measurements have a story to tell - one of the reasons Median and Average are often used side by side in statistical studies, including Real Estate Statistics.
  • May 18 2009
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I don't see how average would be useful at all except within a very narrow price range among similar properties.

By the way, you are not off to a good start here at Zillow. Your postings are obnoxious and you are talking down to people in a very condescending manner.

There are a few that post on this board who know quite a bit about real estate and roberto is one of them. From reading your blog I would think he knows quite a bit more than you.
  • May 18 2009
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viviane, don't lecture me about what median and average do, I am a professor of mathematics.
  • May 18 2009
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Game, set and match to Professor Ribas.

FYI Vivianne, your contact information is in your profile. There's no need to include it in every posting. If someone wants to contact you, they will find you.

Other professionals are kind enough to omit that information, and so should you.
  • May 18 2009
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