How does AcreValue arrive at its valuation estimates?
The AcreValue valuation model follows a comparable sales approach. We consider the attributes of a parcel of land—soils, climate variables, and land cover history available in AcreValue reports plus additional variables such as population density. We base our prediction on recent sales with similar attributes. The valuation model uses a machine-learning algorithm to decide which attributes matter most and determine which sales are comparable to a given plot of land.
The AcreValue valuation estimate is determined by computer models designed by our data scientists.
How often is the valuation estimate updated?