Optima Estimate

The Optima Estimate home valuation is HomeOptima’s estimated market value for a home, computed using a proprietary formula. It is a starting point in determining a home’s value and is not an official appraisal.

 

Other ways to find out the value of your home

Optima Estimates are intended as a useful starting point to help you determine an independent and unbiased assessment of what your home might be worth in today’s market. Comparing your home to recently sold properties can also help you understand what your home is worth. Additionally, your real estate agent or appraiser will physically inspect the home and take into account special features, location and market conditions.

Metropolitan Area Median Error Homes with Optima Estimate Within 5% sale price Within 10% sale price Within 20% sale price
Optima Estimate 5.85% 300K 43.0% 73.0% 93.0%
Zillow 7.7% 97.5M 36.2% 59.2% 80.5%
Metropolitan Area Median Error Homes with Optima Estimate Within 5% sale price Within 10% sale price Within 20% sale price
Optima Estimate 5.85% 300K 43.0% 73.0% 93.0%
Zillow 7.7% 97.5M 36.2% 59.2% 80.5%

Definitions

Median Error:

The median error rate for off-market homes 5.85%. This means that the Optima Estimate for half of all on-market homes are within 5.85% of the selling price, and half are not. This is 40% better than world's #1 Real Estate Portal Zillow that has a median error rate of 7.7%

Homes with Optima Estimate:

We can only calculate Optima Estimate for homes where we have certain data, including historical transactions. This column indicates the number of homes in an area that have Optima Estimates.

WITHIN 5% OF SALE PRICE:

This is the percentage of transactions for which the Optima Estimate was within 5% of the transaction price.

WITHIN 10% OF SALE PRICE:

This is the percentage of transactions for which the Optima Estimate was within 10% of the transaction price.

WITHIN 20% OF SALE PRICE:

This is the percentage of transactions for which the Optima estimate was within 20% of the transaction price.