What is an estimate?
“An 'Estimate' is a computer-generated approximation of a property's market value calculated by means of the Automated Value Model (AVM). As such, an Estimate is calculated on the basis of:
- Publicly available tax assessment records for the property
- Recent sale prices of comparable properties in the same area
There are many additional factors that determine a property's actual market value, including its condition, house style, layout, special features, quality of workmanship, and so on. For this reason, an Estimate should not be viewed as an appraisal, but rather as an approximate basis for making comparisons, and as a starting point for further inquiry. A REALTOR® who specializes in the given area will be able to provide a more accurate valuation based upon current market trends, as well as specific property and neighborhood characteristics.”
In some parts of the country, Realtor.com does not have access to public records data or the available estimates are not considered accurate. In these instances, the company does not display an estimated value.