Understanding house prices
1. Understanding house prices
In this video, we'll harness the power of Excel to delve into aggregate functions. If you're following along, open your understanding house prices starter file, located in the workbooks folder under the demo subfolder. We're focusing on data exclusively from September 2014, aiming to extract valuable insights through several key questions about property sales. First, let's lay the groundwork in column K, from K2 to K5, briefly describing each value. We aim to calculate the average sale price, lowest sale price, highest sale price, and average price per square foot. Diving into our calculations, we'll start with the average sale price. Simply type the equal sign, average, and then select the entire price column by clicking its header. This calculation will yield the average sales price. Moving on to discover the range of sale prices, we employ the min and max functions in cells L3 and L4 respectively, which we'll format as a currency for clarity. These functions will reveal the lowest and highest property sale prices within our data set. To tackle the average price per square foot, we first create a column to calculate the total square footage of each property, combining living and lot spaces. Then we create another column to calculate price per square foot. Finally, we'll use the average function in cell N5 to find the average price per square foot. Formatting our result with two decimal places for precision. With these insights now clearly laid out in our data set, you're equipped to further explore and understand the intricacies of house pricing.2. Let's practice!
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