The Teranet Repeat Sales Model estimates residential resale property values based on property sales pairs. This module uses all properties in the neighborhood of interest that have sold at least twice in the past and thus establish a trend for the rate-of-change of similar and proximal property values over time.
The model then uses that rate-of-change to provide an estimation of the current market value of a specified residential property and a statistically reliable price range, based on the sales activity of similar properties in the immediate neighbourhoods.
Teranet AVM produces its valuations from a proprietary national database compiled with data from public, commercial and proprietary data sources across Canada. Our national database is constantly updated with current sales and property information, which ensures that our AVM consistently reflects current market conditions.