XAI Land’s Villa (연립/다세대) AVM for Seoul (as of March 19, 2021)
XAI Land is proud to announce that we have developed a new Automated Valuation Model (AVM) that values Seoul’s 800,000 some-odd villas (연립/다세대) with a Median Absolute Percentage Error (MdAPE) of 3.9%. Our team tested our AVM against 88,119 villa transactions that were made in 2020 to determine the following test results.
On a statistical level our AVM fares similarly to HouseCanary’s AVM, while Zillow’s AVM appears to fare better on both MdAPE and the number of AVM estimations their AVM made that actually fell within +/-10% of actual transaction values.
Below, you may find a similar table that outlines our updated MdAPE by each district (구/시) in Seoul in addition to the number of samples we tested from transactions that occurred in 2020.
Our team is looking forward to enhancing and scaling our AVMs across South Korea’s regions and asset types as we continue on our path to becoming one of the leading AVM players in South Korea.