Redfin likely doesn’t know about any major improvements or repairs you’ve made since buying the house. You claim your home on Redfin’s owner dashboard, where you can edit its key facts, including property type, beds, baths, square footage, lot size, and year built. Redfin’s home value estimates are updated daily for active listings, and weekly for off-market homes, making it one of the most up-to-date home value websites. Redfin then estimates its value based on the recent sales of similar off-market and on-market properties. Those data points include your home’s key features, such as its bedrooms, bathrooms, and total square footage. Redfin claims it uses more than 500 data points about your market, neighborhood, and your home to determine your property’s value. Like other home value estimators, Redfin uses recent sales data from your local multiple listing service (MLS): the system most brokers and realtors use to market and sell homes. Home buyers who are interested in purchasing a house and want to learn if the home is fairly priced.Homeowners who are thinking about selling and just want a quick ballpark home value estimate.
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