Question 578013
In statistics median means the value such that half of similar values are below, and the other half are above.
If the median market value of a house in a neighborhood is $250,000, half of the houses are valued at less than that and the other half are valued at more than that.
Average or mean market value can be different, because there could be a few multi-million dollar houses in the mix that would drive the average up. You could have 50 houses appraised at $200,000 45 houses appraised at $300,000, and 5 houses appraised at $2,300,000, for a median of $250,000 and a mean of $350,000.