A lower MdAPE indicates a more accurate property valuation.
Residential real estate sales prices are influenced by much more than recent sales prices of nearby homes.
We pull sales and listing data from MLS and county assessor records, and pull insights from multiple other sources such as macroeconomic data, capital markets data, mortgage records, search and social data, and house/parcel data.
We run 8 individual AVMs, each of which executes different property valuation models. Every day, we use our unique ensemble methodology to run thousands of simulations for each property we track. We customize the weight we assign to various data sources to account for regional differences in market trends, economic factors, and demographics.
On a monthly basis, we compare our previous property valuations against the actual reported sales prices of homes. This allows us to continually evaluate the accuracy of our property valuations, identify changes in local and regional markets, and tune our models and algorithms to account for local and regional changes.