Without a neighbourhood-specific note to lean on, the honest answer is that the citywide figure only tells you where the overall market sits, not what any one University Heights lot, garage and basement development combination is worth against what has actually sold nearby.
That is true of every neighbourhood, but it matters most for a buyer or seller trying to skip the comparable-sales step entirely and price off a single number, since an online estimate cannot see a permitted addition or a finished basement built to code.
A real answer needs the specific address checked against recent, genuinely comparable sales, not a citywide average applied uniformly. Get your hand-reviewed valuation from Joel Dyck.