Toronto "Average" Prices - Help me with the math
I haven't dug through the numbers on treb website, but this is what I gather for average year-over-year prices on all segments.
"The Toronto Real Estate Board said Tuesday the average selling price of a detached home in the 416 area code was $1,283,981 in January, a decline of 3.9 per cent from the same month a year earlier."
"Prices for other types of housing, however, were higher. Semis changed hands for an average price of $936,623, townhomes sold on average for $712,186 and condominiums went for $543,279 — increases of 3.7, 8.2, and 15.1 per cent, respectively, over the past 12 months."
Detached prices: -3.9%
However, on "average" across all segments, the prices were down -4.1%. Does someone have an explanation for the math on this? Clearly it has to be some marketing gimmick. i.e. the data for one segment is for a particular area, whereas the numbers for another segment are for another area (or different timeline, I dunno). If anyone did the math, I would appreciate an answer.