AVM Confidence Rating

The IDS AVM returns a confidence rating for the estimate in the Confidence field.

The rating has 4 possible values – High, Medium, and Low – plus an as yet unnamed 4^thvalue which indicates the estimate is not suitable for use. Estimates with the 4^thvalue are returned in the API call, but not intended to be displayed publicly.

General Text

The following text is to be shown above the explanatory text for all Confidence ratings:

“AVM estimates vary in their level of confidence due to a number of factors unique to each property. The following factors are common amongst properties with this confidence rating, though not all of them will necessarily apply to this property.”

Rating Specific Text

Confidence	Factors that lead to rating

Confidence	Factors that lead to rating
HIGH	The estimated property may: Be currently listed for sale, with an indicative price or range. Be in an area with many sales and have a sale in the past 5 years. Be a typical property for this area and have many recent sales of nearby comparable properties, particularly in the same street.
MEDIUM	The estimated property may: Not be currently on the market. Be currently listed for sale without a published indicative price or range (e.g., by auction). Have a most recent previous sale older than 5 years or be in an area with few recent sales. Have only a few recent sales of nearby comparable properties, particularly in the same street. Not be a typical property for this area.
LOW	The estimated property may: Not be currently on the market. Have no known previous sale. Have a most recent previous sale older than 15 years and be in an area with few sales. Have few or no recent sales of nearby comparable properties, with none in the same street. Be unlike most properties in this area. Be in a rural or metropolitan fringe area which is difficult to model statistically.
NOT RECOMMENDED	No explanatory text is required as the estimate and particularly its rating are not intended for public consumption