Not so fast – you’d have to compare the datasets and adjust for their differences.
Think about this: when we’re talking about this few sales, the activity occurring in the higher price ranges has an outsized effect on the overall average.
A $900k price range can actually be dropping faster than the $600k price range and those sellers can be losing more, but because more of them are closing at these losing prices the average would still go up. Does that mean prices are increasing or even stabilizing? Of course not.
The same thing can happen in reverse. An average could decline even while prices are increasing depending on the volumes at the diferent price ranges.
