median and mean don't really tell you much. You would have to track the selling prices of a a few individual properties in a particular area to get an accurate idea.
For example - if you were to measure the height of all the students at a secondary school, you might come up with a mean measurement of, say, 160cm and a median of 158cm. Now, what if you were to take out the first year students (akin to first home buyer houses) - the median and the mean values would increase to, say 163cm and 160cm. Does this mean that the students have suddenly grown 3cm??
The RE spruikers might say yes! or at least infer it.
