I have the following formula,

=(SUMPRODUCT(--($E$2:$E$49550000),--($E$2:$E$495<75001),$D$2:$D$495)/SUMPRODUCT(--($E$2:$E$49550000),--($E$2:$E$495<75001)))

Which is calculating averages of property values between specified ranges.
I would like to be able to drill further into this data by grouping the
averages by state.

Suggestions?

Thanks,
Suzanne