Independent Study Finds Redfin Estimate to be Most Accurate Among Top Automated Home-Value Estimates
Study Conducted by SSRS
Redfin (www.redfin.com), the next-generation real estate brokerage, today announced the findings of a comprehensive, independent study that found that the Redfin Estimate more accurately predicted the value of thousands of homes for sale than estimates from other leading providers of public home-value estimates. Of the more than 5,000 home sales evaluated in the study, 64 percent sold within 3 percent of the price predicted by Redfin, compared to 29 percent for Zillow and 16 percent for Homes.com. The median error rate of the home-value estimate was 2.06 percent for Redfin, 5.95 percent for Zillow and 10.26 percent for Homes.com. Redfin commissioned independent research company SSRS to conduct the study.