What is Zoom Prediction?
It is a prediction of the price a home will fetch in the market if it was sold today.
The Zoom Prediction of each home is derived from analyzing millions of data points using artificial intelligence algorithms developed by data scientists with backgrounds from Stanford University, UC Berkeley and Singapore Management University.
Our intelligent algorithms understand complex market changes in real-time and, as a result, the Zoom Prediction of each home is constantly updated to reflect the latest market conditions.
The Zoom Prediction is only a starting point in predicting a home's value and is not an official appraisal. We encourage users to supplement this information with professional appraisals using traditional methods.
How accurate is Zoom Prediction?
UrbanZoom’s technology yields highly accurate residential price predictions, with an overall median error rate below 3.5%.
7 out of 10 properties within 5%
9 out of 10 properties within 10%
9.8 out of 10 properties within 20%
Our algorithms also compute a confidence level associated with each Zoom Prediction generated. For those with “highly confident” ratings, the median error rate of these homes is significantly lower.
For some homes, because of the limited availability of data, UrbanZoom cannot consider all the market intricacies that may determine the transaction prices and their Zoom Predictions may be inaccurate.
The Prediction Range shows the high and low range of the price prediction based on a 68 percent confidence interval. A wider range indicates more volatility in the data or that less data is available.