No it doesn't. It assumes some of the units have correlated prices, because units are, to some extent, fungible - if there are no one-bedroom apartments in the price range, then you'll drive up the price of pricier two-bedroom apartments due to the increased competition.
I wasn't suggesting that the net result was false, just that the model suggested in the comment I was replying to wasn't accurate, because landlords do sell the same model of apartment to different people at different prices based on when their lease started.