Why do two properties with similar characteristics not have the same value?

There are a number of reasons why two identical properties may not be valued the same.

  • Did the properties transfer at the same time for the same amount?
  • Did the properties have the same renovations completed and sold at the same time valuating the renovations and thus the values should be the exact same?

The Purview model does not have access to know what the inside of the homes look like nor does it have access to what renovations may have been completed and can only go by what is registered on title

So in general, if the registered sales values of each property have a gap between the values….the AVM model will most likely reflect a gap as well.

However, if there is a huge discrepancy between the two properties in question – please let us know and we will check into the matter.

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