Actually, we don’t need to list all vlookup findings (target values) at all, and we can easily average all vlookup findings with the AVERAGEIF function.
Enter the formula =AVERAGEIF(A1:A24,E2,C1:C24) into a blank cell, and press the Enter key. And then the average of all vlookup findings has been calculated. See screenshot：

Notes:
(1) In above formula, A1:A24 is the column you will search for the lookup value, E2 is the lookup value, and C1:C24 is the column where you will average vlookup findings.
(2) You can also apply this array formula =AVERAGE(IF(A1:A24=E2,C1:C24)) into a blank cell, and press the Ctrl + Shift + Enter keys simultaneously.

Easily vlookup and sum/count/average lookup findings in Excel

Kutools for Excel’s Advanced Combine Rows utility can help Excel users to batch sum, count, and average based on duplicate items in one column (the Fruit Column in our case), and then delete the duplicate rows based on this column (the Fruit Column) easily as below screenshot shown.

3. Enter the formula =AVERAGEVISIBLE(C2:C22) (C1:C22 is the column where you will average vlookup findings ) into a blank cell, and press the Enter key. And then the vlookup findings’ average has been calculated. See below screenshot:

This method will introduce Kutools for Excel’s Advanced Combine Rows utility to combine rows based on duplicates in one column, and then calculate sum/average/max/min/count matched values in another column. Pleased do as follows:

1. Select the range you will average all vlookup findings, and click Kutools > Content > Advanced Combine Rows. See screenshot:

2. In the opening Advanced Combine Rows dialog box,
(1) Select the column you will search for lookup value, and click the Primary Key;
(2) Select the column where you will average vlookup findings, and click Calculate > Average;
(3) Specify the combination or calculation rules for other columns. In our case, we select the Price column and click Combine > Comma.

3. Click the Ok button.

And then rows have been combined based on duplicate values in the column you will search for lookup value, and values in other columns have been combined or calculated (average, sum, max, min, etc.). See screenshot:

At this time, you can easily get the average of all vlookup findings.

Calculate average/compound annual growth rate in Excel

Calculate moving/rolling average Excel

Average per day/month/quarter/hour with pivot table in Excel