“half of the sales were below”
This goes back to my point. The sales that were below are smaller houses in less desirable areas. Many of these house also need work. Some, lots of work.
The house I bought 12 years ago was one of those houses. I have redone every room in the house. I have replaced every exterior door except one. I removed all the carpets. Sanded and refinished floors. Remodeled every bathroom. I have also replaced about half of the exterior trim.
This is WHY the house sold at a discount to the market.
My house, too.
But, as one of the fixer shoes liked to say: “It had good bones.”
And, it was out in the country where the nearest neighbor was not likely to influence the value of my place much.