Redfin · Real Estate
Redfin Estimate
Redfin's automated valuation model leveraging MLS data and machine learning to provide property value estimates with industry-leading accuracy for on-market homes.
Overview
The Redfin Estimate is an automated property valuation model that leverages Redfin's direct access to MLS data as a licensed brokerage combined with machine learning algorithms. This brokerage advantage gives Redfin access to more timely and detailed listing data than competitors who rely on third-party data feeds. The Redfin Estimate claims the lowest error rate among major online home valuation tools for on-market properties, making it a preferred reference for buyers and sellers seeking accurate pricing context.
Coverage
Major U.S. metropolitan areas
Accuracy
~1.5-2% median error (on-market homes)
Data Advantage
Direct MLS access as licensed brokerage
Update Frequency
Daily for active listings
Model Type
Machine learning AVM
Capabilities
Automated property valuation with MLS-direct data
On-market and off-market home value estimation
Comparable sales analysis and selection
Neighborhood and market trend analysis
Use Cases
Providing accurate home value estimates for listed properties
Supporting pricing decisions for home sellers and their agents
Informing buyer offers with data-driven property valuations
Tracking property value trends over time for homeowners
Pros
- +Claims lowest error rate among major online AVM tools
- +Direct MLS access provides more current and detailed data
- +Transparent about accuracy metrics and methodology
- +Integration with Redfin's brokerage provides full-service context
Cons
- -Coverage limited to areas where Redfin operates as a brokerage
- -Off-market estimates are significantly less accurate
- -No standalone API or data product for developers
- -Accuracy advantage diminishes for unique or rural properties
Pricing
Free for consumers on Redfin.com and Redfin app. No standalone API product. Integrated into Redfin's brokerage and lending services.