The median is the "middle" value for the particular set of results. If for example there
are 5 properties sold in an area for 2000 and they sold for the following prices:
R100 000 R200 000 R150 000 R250 000 R500 000 The median property sale price in this
example would be R200 000. If the results is an even number of records then the middle
two values will be averaged to calculate the median. The reason for using this method,
espcially usefull when many records are used, is to reomve the outliers and anomalies.
If, for example, we are analysing the property sales for the above example but include
a large plot of land sold for R15 000 000, then the median would be R200 000. If we used
an average instead of the median our result would be R2 700 000. This would not reflect
the sales in that particular area sufficiently.
A Properties sale price is the price as regitered at the Deeds office. You may see a
value of 0 for the sale price. This may be due to several different reasons. An example
would be if the property was inherited or transfered from a trust. This would also
explain sale prices that are low in comparison to surrounding properties.
SECTIONAL TITLE FOR SALE IN PAROW
Property Description:
64 sq meter 2 bedroom flat, well priced, come make your offer, good rental potential
Property Information:
| Size: 64 |
Condition: excellent |
| Beds: 2 |
Reception: 1 |
| Lounge: 1 |
Baths: 1 |
| Price: R360,000 |
|
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Median sales for PAROW since 1999
maPropertyTrends
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This graph shows the for PAROW from 1999 by usage type.
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