How is the Current Market Price Estimate calculated in a Property Report?
The Home Price Guide® Property Report will provide you with a Current Market Price Estimate to give you an idea on how much your home is worth in today’s property market. The Current Market Price Estimate is driven by APM’s proprietary DMV Modelling (Dynamic Multi-Variant Modelling) technology. By using various points of information, the Model determines the best method for providing the most appropriate Current Market Price Estimate. Properties with recent sale information available will use it as the basis for the Current Market Price Estimate. The price of the recent sale is indexed forward (converted) from the date of the recent sale into today’s money. Where a property does not have recent sale information, sale information for neighbouring properties is used for the Current Market Price Estimate. To determine the most appropriate neighbouring properties for comparison when calculating the estimate, various geographical and property specific information are considered including: •
