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.

HOUSE FOR SALE IN VAN RIEBEECKSTRAND

Property Description:

SPACIOU SAND MODERN Very neat home with 5 bedrooms, 3 bathrooms. Kitchen with scullery, pantry, gas stove with hob. Spacious dining room, lounge, study, braai area with pizza oven, upstairs balcony, Automatic gates. Large garage 63mē THIS HOME OFFERS SO MUCH MORE!

Property Information:

Condition: good Beds: 5
Reception: 2 Study: 1
Lounge: 1 Baths: 3
Garage: 2 Price: R2,495,000
 
 
R 2,495,000
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HOUSE WITH WATER FEATURE

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Median sales for VAN RIEBEECKSTRAND since 1999

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This graph shows the median sales price for VAN RIEBEECKSTRAND from 1999 by usage type.

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