David Graham
1 min readNov 16, 2023

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I think you misunderstand the comment. Think of it like this, imagine 10 homes that are sold for £100, then one home that is sold for £1000, and another that is sold for £10. If you work out the average price using the conventional method for these 12 homes, it would come out at approximately £168.

However, this figure is useless in regard to telling us what the average price people paid for their home was. That means the average figure is not the average price people paid.

Step forth the median, the median house price in the above example would be £100. This gives us an accurate picture of what the average selling price of homes was. As such, the average price people paid for a house in this world was £100, even though we have used the median to work that out.

So, even though we have used the median price, that median price is telling us the average price that the average buyer would likely pay. As such, it is telling us the average house price.

Hope that makes sense! Thanks for the comment, Heather.

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David Graham
David Graham

Written by David Graham

Due to injury I write using voice dictation software. Lover of psychology, science, humour, history, fiction & self-improvement. https://linktr.ee/DavidGraham86

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