The model's 80% range for this home is $389,256 to $491,347. In testing on later sales, ranges built this way contained the sale price 79% of the time.
That range is 23% of the estimate. It is set from how far this model's recent valuations fell from the prices those homes sold for, and is re-fitted every quarter.
Selected the way an appraiser would: nearby first, then similar in size, then ranked by closeness in age and quality. Every property below is a real recorded sale, so the reasoning can be checked rather than taken on trust.
| Neighbourhood | Size (sq ft) | Built | Quality | Distance | Sold | Sale price |
|---|---|---|---|---|---|---|
| NridgHt | 2,668 | 2003 | 9/10 | same block | 2008 | $412,500 |
| NridgHt | 2,758 | 2005 | 9/10 | 0.13 mi | 2007 | $418,000 |
| NridgHt | 2,690 | 2003 | 8/10 | 0.06 mi | 2008 | $370,000 |
| NridgHt | 2,643 | 2006 | 9/10 | 0.27 mi | 2007 | $380,000 |
| NridgHt | 2,452 | 2003 | 9/10 | 0.06 mi | 2009 | $445,000 |
| This property | 2,696 | 2003 | 9/10 | — | — | — |
The 80% range spans 23% of the estimate, in line with this model's normal precision.
Across held-out sales in NridgHt, this model under-valued by 3.5% on average. That pattern is measured, not corrected for, in the figure above.