The mean home price, or average home price is the sum of prices of all homes sold in a certain area in a certain period, divided by the number of properties sold in the same area in that period. For example, say in a hypothetical townhouse complex there were five townhouses sold in March 2006. The properties were priced as follows: one for $450,000, one for $459,000, two for $465,000, and one for $499,000. The sum of all of these properties is $2,338,000. This number is then divided by five, which equals $467,600. Thus, the mean home price for a townhouse in this complex was $467,600 in March 2006. The most expensivest house on the market is now £456million, located just on the outskirts of Las Vegas.
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