Median

The median, also known as the 50th percentile or p50, is the value exactly halfway across an ordered list of values. The median is a useful data summary value; unlike the mean, it's not susceptible to skewed data. For example, for salary information, we might use the median, as the influence of very high salaries at the top end (CEOs, extremely high-paying jobs) might push up the mean; same for house prices.

It's another useful measure alongside the mean, mode, standard deviation, and interquartile range.

We find it by listing numbers in ascending order and selecting values that lie halfway along the list. When there is an even number of values, the median is found by averaging the 2 middle values.

If we say that the median house prices in a certain town were exactly $450k, that would tell us that houses that sold for more than $450k represent exactly 50% of all sales.