PropMix recently added two insights – iEstimate and iPriceTrend, for predicting Real Estate property prices, to its catalog. These insights are provided by CogNub, our cognitive computing and machine learning partner.
iEstimate is the estimated market value for an individual home and is calculated for million homes nationwide. It is computed using a proprietary formula taking into account special features, location, and market conditions of the property based on Critical Field Analysis.
iPriceTrend provides the price trend of similar types of properties in a particular zip code for a time period. This insight will help you to keep track of property values across the time for a zip code of interest. These price trends are visualized in the form of graphs. It also displays additional information such as the volume of transactions in the zip code. iPriceTrend is available for three months, six months, one year, three years and five years.
Read more about the cognitive computing capabilities behind iEstimate and iPriceTrend here.