That is a very interesting question. By standard deviation, I assume you want to measure the variability of the list price for homes in your geographical area from the â€œaverage selling priceâ€. I must ask why you want to know that information. I can assume that you are trying to find a â€œcorrect and accurate â€œ price for a property you are interested in. To find what is an â€œ accurateâ€ price for the property, I would suggest either a professional appraisal of a technical Comparative Market Analysis (CMA) be done on the property. These type of analysis will be based on actually sold properties adjusted for differences in square footage ,number and type of rooms, any functional obsolesce , major features and amenities , and over-all condition. Then you will have a basis for the price of the property . I believe this detailed analysis on each individual house will provide you with a more accurate answer that merely using a statistical calculation for a â€œcorrectâ€ price.
Hope this approach is helpful
Bernard (BJ) Brill
Emails --- realtorbjb@ gmail.com or BJ.BRILL@PrudentialNewJersey.com