What is a Market Estimate?
A planned Housing Market Agent feature. It is not built, and no estimate can be produced today.
Market Estimate is one of the four planned areas of Housing Market Agent. It is being built and cannot be used yet, so there is currently no way to create one.
It is designed to help a property owner understand their position in the market using relevant comparable properties and current demand information — accounting for the characteristics that differentiate one property from another rather than averaging the asking prices nearby. The factors named in the design are location, property type, size, floor, view, condition, orientation, the building or project, and how recent each comparable is.
The plan is that historical comparable evidence and current buyer demand from Housing Market Insights are shown separately, so an agent can explain a recommendation to a seller rather than assert it, and that the output is a Market Estimate range, a suggested asking price, the comparables behind it, current demand information, an estimated time on market and a seller-facing report carrying your own brand.
It will be exactly what its name says: an estimate derived from market data. It will not be a substitute for the assessment of a licensed professional where your market or your lender requires one, and we will not present it as one.
For market context you can use today — local activity, supply, transactions and what property shoppers are searching for — Housing Market Insights is the product that provides it.