The "Average Home Price" refers to the typical cost of residential properties in a specific area over a certain period. It is calculated by adding the prices of all homes sold and dividing that total by the number of homes. This figure helps potential buyers understand the market and make informed decisions. Factors influencing the average home price include location, size, and condition of the property, as well as economic conditions and interest rates. In areas with high demand, such as urban centers, the average home price tends to be higher compared to rural regions.