Platform · Glossary
Neighborhood appraisal range.
What single-family homes in a property’s neighborhood appraised for. PriceDNA shows it for single-family properties, next to the PriceDNA Estimate™ and the asking price.
Why a range for a single house
A house is usually valued by comparing it with similar homes that sold nearby, known as comps. PriceDNA doesn’t price your property against individual comps. Instead it shows what professional appraisers valued homes at in the same neighborhood, and appraisals are themselves built from comps.
What the numbers mean
- The middle half: half of the neighborhood’s appraisals fell between these two values. A quarter came in lower and a quarter higher.
- The median: the middle appraisal. It’s the mark on the report’s price line.
- The year: the most recent year with enough appraisals to publish, within the last three.
Where it comes from
The Federal Housing Finance Agency (FHFA) publishes appraisal statistics for single-family homes financed through Fannie Mae and Freddie Mac. They cover each census tract, an area of a few thousand residents that PriceDNA uses as a neighborhood. Where a tract has too few appraisals to publish, the report shows the county’s range instead and says so.
What it isn't
It’s the neighborhood’s range, not this property’s value. A home in better or worse condition than its neighbors can sit outside it. If the deal looks strong, get an appraisal before you commit.
The range and the PriceDNA Estimate
The range shows what homes nearby appraised for. The PriceDNA Estimate shows what you can pay and still reach your goal. When the estimate, the range and the asking price are within negotiating distance, that’s a good sign.