An AVM is calculated with a confidence level for each property which is based on the amount and currency of the data that is attached to the property and the comparable information in the surrounding area.
There are various sub-models used in the calculation which have various weighting depending on the currency of the data, and other manual adjustments made to the sub-models which is completed by our team of Data Scientists on a regular basis.
Due to the size of the data that is within the property universe, changes in the market or the introduction of new data can lead to changes in the AVM. Therefore, we suggest where the estimate does not meet your expectations or requirements we direct homeowners, agents and brokers to conduct and rely on their own market research to better ascertain the value of a property.