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Can A Robot Accurately Predict Your Manhattan Beach Home Value?

Aug 12, 2022 09:49AM ● By Mb News Staff
Can a robot accurately predict the value of your Manhattan Beach home? In other words, are those estimated home values generated by Zillow, Redfin, and accurate - or way off base?

That's the question that our sister blog, Manhattan Beach Confidential, put to the test with a six-month test of online automated home valuations.

MB Confidential tracked 14 Manhattan Beach real estate listings between January and June and compared the automated valuations given on Zillow, Redfin, and with the final sale price.

The results were, well, all over the map. In the best case scenarios,  estimates were within 2% and 5% of the sales price. In the worse case scenario, one estimate was off by more than 50%.

So on a scale of A through F, what letter grade did each valuation model get for its performance? Read the whole story here.

Disclaimer: Both Redfin and Zillow operate brokerages, but the study was not focused on either brokerage's business practices; it aimed to examine the reliability of their publicly displayed property valuations. 

Manhattan Beach's Most Complete Real Estate Resource

MB Confidential, MB News's sister publication, offers the most detailed resource available for Manhattan Beach real estate data.

For the latest pending/sold reports and massive amounts of additional local real estate data, visit MB Confidential's data page. For an up-to-the-minute scorecard on new listings, new escrows, new closed deals, and new price cuts, visit the Manhattan Beach Confidential Dashboard.

Additionally, for more insights into the market, to inquire about buying or selling properties, or to learn more about off-market inventory, contact MB Confidential author and Edge Real Estate Agency broker Dave Fratello by email, or call (310) 243-6299.

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