How accurate is a Prop IQ estimate?
Most homeowners are handed a price with no working shown. We publish ours: where every figure comes from, how wide the range is and why, and how our estimates have compared against independent valuation reports owners have uploaded.
Measured against independent valuations
Measured against actual sale prices
The hardest test of an estimate is what the property actually sold for. Whenever a tracked property appears in the recorded sales data, we compare the sale price against the estimate that stood immediately before the sale — never one made afterwards. This figure updates itself as new sales settle.
Why we publish a range, not a single number
Any honest estimate of a home is a range. Prop IQ derives the range from the spread of the verified comparable sales themselves: when recent, nearby, closely-matched sales agree, the range narrows; when the evidence is thin or scattered, it widens and the confidence score falls. The width is a measurement, not a hedge.
- Comparable count. How many verified sales qualified. Five or more is the target.
- Similarity. How closely each sale matches on type, bedrooms, land and floor area.
- Recency. How long ago each sale settled. Under three months is ideal.
- Distance. How close each sale is to your property.
- Agreement. How tightly the adjusted values cluster once each sale is adjusted to your home.
What we will never do
- Invent a comparable sale. Every sale shown is a verified record from our licensed data provider.
- Publish a valuation range without qualifying comparable sales.
- Merge an agent's opinion of price into the independent estimate.
- Present an estimate as a certified, sworn or formal property valuation. It is not one.
See the working on your own property
Every estimate comes with the comparable sales and adjustments behind it.