How the Khalif Index is calculated
At the start of every month we compute the median price and the median price per square metre per district from the active listings in our own catalogue. This page states the method, and its limits.
Written by: Khalif Estate · Checked: 2026
Source
The figures come from **active listings in the Khalif Estate catalogue**. That is not the whole Azerbaijani market: it is the part of it we see. A listing that is archived (sold, withdrawn) drops out of the next calculation.
Recorded sale prices sit in the state register and are not public, so no private index — ours included — knows what a home actually sold for.
Median, not average
One expensive home drags an average: a villa among ten flats pulls the district's 'average price' up. The **median** — the middle number once they are sorted — does not move for it.
Price per square metre is computed per listing (price ÷ area) and the median is taken of those.
Minimum sample
| Cut | Minimum listings |
|---|---|
| The district itself | 1 |
| By room count (e.g. 2 rooms) | 4 |
| By building type (new / old build) | 4 |
A median over two homes is two homes, not a market. So a cut with too few listings is **not published**: no page, no number.
The district row always shows its own listing count — a median over 3 listings and one over 30 do not carry the same weight, and the reader has to be able to see which they are looking at.
Updates and archive
The calculation runs on the 1st of each month and is frozen for that month. Older months are kept: every district page links to them, so the change can be checked rather than taken on trust.
The month-over-month percentage compares the same calculation with the previous month. With no previous reading no percentage is shown — '0%' would claim a flat market we have not measured.
What the figure does not show
**Not the transaction price.** An asking price is a starting point; homes usually sell below it.
**Not the value of your home.** Floor, condition, title, the state of the building and the view can separate two homes in the same district by 30%.
**Not the whole market.** Where our catalogue is thin the figure is weaker, and the listing count says so.
Frequently asked questions
Where do the Khalif Index numbers come from?
From active listings in the Khalif Estate catalogue, recomputed at the start of each month per district: median price, median price per square metre, median area.
Why the median rather than the average?
One expensive home drags an average. The median is the middle value once the list is sorted, and is not moved by outliers.
Is this the actual sale price?
No — it is the asking price. Sale prices are not public in Azerbaijan, so no private index knows them. Homes usually sell below the asking price.
Why is there no figure for 2-room flats in some districts?
Because that cut has fewer than four listings. We do not publish a median over a handful of homes — it measures coincidence, not a market.
How often is it updated?
On the 1st of each month. Previous months stay available from each district page.
Figures are as of mid-2026 and taken from official sources. The law changes — confirm the current figure with a notary, a bank or the relevant authority before you commit to a transaction.
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