RE/MAX Escarpment
Languages
Specialties
Business Opportunities, Buyers, Downsizing, First Time Buyers, First Time Sellers, Investments, Luxury Homes, Power of Sale, Relocation, Residential, Sellers
Locations
Burlington, Collingwood, Fonthill/Pelham, Hamilton, Oakville, St. Catharines, Stoney Creek
Apr 20, 2023
When analyzing home sale prices, it is crucial to consider the type of central tendency to use in order to gain a clear picture of the market. Some metrics, such as the median and average price can be heavily influenced by outliers if a number of lower-priced or higher priced homes have been included in the analysis. In order to avoid this issue, the benchmark price can be used instead. This price is determined based on a set of criteria commonly found in other properties in the same area, and is therefore a more accurate representation of a typical home in a particular neighbourhood.