The median 2016 Lexus IS in the Canadian market sits at $23,450, with a typical car landing around 119,606 km on the odometer. That's your anchor number. Pay much above it and you're paying for something specific, condition, low kilometres, a loaded trim, not just the badge.
Most of these cars trade in a tight band, from $21,980 to $24,375. Under $2,400 separates the low end from the high end, which tells you the market has this year priced fairly consistently. A clean example near 120,000 km should cost you something close to the middle of that range.
What to actually pay
If a listing drops below $21,980, that's worth a closer look, either it's a genuine deal or there's a story in the history report. Above $24,375, the seller needs to justify it with the odometer or the paperwork. We've flagged 5 deals on this model year in the last 90 days, so cars worth chasing do surface, just not every week.
Bottom line: budget around $23,450 for a typical 2016 IS, treat $21,980 to $24,375 as normal, and use anything outside that band as a prompt to ask harder questions before you sign.
Numbers reflect live listings across Canada over the last 90 days, filtered for outliers. Data as of . Prices in CAD.