How does realtor.com estimate home values?
1 answer
@marion.bernhard
Realtor.com estimates home values using a proprietary algorithm that takes into account various data points and factors. These factors include recent sales prices of similar homes in the area, public records of property details, local market trends, and other relevant data such as the number of bedrooms, bathrooms, square footage, lot size, and location.
The algorithm continuously analyzes and updates its estimates based on the latest information available. However, it's important to note that these estimates are not appraisals and may not always precisely reflect the true market value of a property. Professional appraisals and assessments by real estate professionals are typically more accurate for determining a property's value.