The Time on Market is the number of days a property has been listed for sale or rent. Readers should note that a property may be withdrawn from the market for reasons other than a successful sale or letting.

The Average Time on Market is the mean Time on Market for all properties in the sample. It is calculated by adding up all the values in the sample and then dividing by the number of values.

The Median Time on Market is the number for which half of the values in the sample are higher than it, and half are lower. The median of a list of numbers can be found by arranging all the observations from lowest value to highest value and picking the middle one. If there are an even number of observations, the mean of the two middle values is often used.