Thin market.

A thin market is a market segment where transaction volume is low enough that aggregate metrics (median price, yield, vacancy, growth) carry high variance and small numbers of outlier transactions can swing the figure materially.

We gate any aggregate computed on fewer than 20 transactions in the sample window. Below that threshold, we render Pending (or 'Cohort too small') rather than mislead. This is a deliberate guardrail. A single $4M sale in a regional suburb that normally clears 5 properties/year shouldn't pull the median from $400K to $1M.

Thin-market gating is most relevant for unit market segments in coastal or regional suburbs, brand-new estate releases, and metric splits like '4-bed only' in low-density suburbs.