3730 Washington…barely a month on the market at a meager $14,500,000, needing some pretty serious remodeling, and now contingency free (pending), which means it is highly likely the sale with go through.
[Update: A reader quickly catches our late night mistake. Thanks. “I think you mean, ‘messing with the average’. The median value is the the number that ends up in the middle of a sorted list of numbers (the average of the two middle numbers, if you have an even number of numbers).
If there are 1000 houses each priced at $1,000, the median price is $1,000. Adding a $14M home into the mix still yields a median price of $1000, but the average will go up to $14,985.– Statistics Nazi.”
And in case you need more ammo to laugh at our blunder, here’s a nice lesson on the median from Bryan Flanagan at Twin Cities Property Buzz.
More knowledge on the matter: What the Hell is the Median and Why Should I Care? from Submedian.]
–Large and In Charge: 3730 Washington [theFrontSteps]
–For Non-Math Majors: Median Home Price vs. Average Home Price [Twin Cities Property Buzz]