Our advanced computer-driven mathematical models analyze a variety of key property features, combined with up-to-the-minute local market information and trends, to produce a precise estimate of your home's market value.
Home values for your contacts live on their personalized Contact Dashboard. These home values are living metrics that adjust regularly based on new information and market trends.
Data and coverage:
Our AVM provides valuations on more than 84 million homes across all 50 states. Coverage includes the 2,194 counties where 98% of the U.S. population resides. Valuations are currently limited to single-family homes and condominiums, though new data is always being added as models are updated to broaden our coverage.
Individual value estimates rely on neighborhood boundaries and recent sales transaction data, therefore capturing the micro-location deviations in the local real estate market. With a few exceptions for rural areas and others with low sales activity, all transactions used in the valuation models have occurred within 24 months of the AVM valuation date.
Accuracy:
To gauge the accuracy of the AVM, the AVM values have been compared to actual sale prices over a recent three-month period. The median difference between the AVM values and the sale price was 6%, meaning that one half of all valuations are within 6% of the sale price of the property. Additionally, 70% of valuations are within 10% of the sale price and 85% within 20%.
Properties we don't value:
There are several property types we intentionally don’t value or include in our comparable selection. We eliminate these property types for two reasons. First, these property types typically have a negative impact on the predictive value of other homes. Second, these property types require different data and modeling; therefore, they really don’t belong in an AVM for standard single-family residences.
- Mobile Homes: In the case of mobile homes, a two-bedroom, two-bathroom home should value lower than a standard fixed foundation of the same configuration.
- Homes on Farm or Agricultural Land: In this case, the land and its use influence the value of the home because they are sold as a single unit of real property. So, the valuation requires data and modeling from similar comparable properties.
- Multi-Unit Homes: These properties rely on rental data to determine value because they are most typically investment properties that are under multi-tenant lease. As such, they require different data and modeling to derive a value.