Research Hub
Understanding Median Prices
The median price is one of the most quoted property figures and one of the most misunderstood. Here is what it actually measures and where it can mislead.
What the median actually is
The median is the middle price of all sales in an area over a period — half sold for more, half for less. It is often preferred to an average because a few very expensive or very cheap sales do not distort it as much.
Crucially, the median describes the mix of what sold, not the change in value of any one property. If more large family homes sold this quarter, the median can rise even if individual home values did not move.
Where it misleads
A shifting median can reflect a change in the type of property selling rather than genuine growth. In areas with few sales, the median can also swing sharply from one period to the next simply because the sample is small.
Using it wisely
Treat the median as one clue rather than proof of growth. Pair it with sales volumes, the type of stock selling, and longer time frames. For current medians on your shortlisted areas, request a report on your discovery call.
Related reading
- Research mistakes — the data misreadings that lead buyers astray.
- Property due diligence — the checks that go beyond headline price figures.
Frequently asked questions
Is a rising median always good news?
Not necessarily. A rising median can reflect a change in what sold rather than real value growth. Look at the underlying detail before drawing conclusions.
Why not just use the average price?
Averages can be skewed by a handful of unusually high or low sales. The median is often a more stable middle figure, though it has its own limits.