The Teranet Sales Comparison Model is based on two key steps: selecting suitable recent, nearby comparable sales, and adjusting valuations for major differences between the subject and comparable properties.
This model uses a comprehensive dataset including land registry (sales and parcel data), property details, neighbourhood specifics, and internally processed data. The Sales Comparison model improves by refining "comparable neighbourhoods" for selecting sales and adjusting valuation weights as attribute importance changes over time.
Teranet’s AVM combines estimation models, selecting values from the model with the best accuracy for each region and property type based on back testing. Model performance is reviewed monthly and adjusted as needed.
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*If you purchased an AVM report from MPAC (propertyline™), contact them at propertyline@mpac.ca.
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