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Two ways to find a conditional average in Excel

For reporting purposes, the above method works great. If you are just looking for a quick conditional average, I prefer to use Sort or Filter and the highlight the column, look to the Status Bar and it gives you the average, count, and sum all in one place.

You could simply highlight the range $A$1:$C$13, then Insert a pivot table (Alt+N, V, T, Enter), drag "Region" to Row Labels, "Sold" to Values, click on "Value Field Settings", select "average", and - voila! Or, if you prefer, "Bob's your uncle".