Homes in the Big Apple are notoriously hard to value
StreetEasy, a real estate platform for buying, selling, and renting homes across New York City and New Jersey, has launched StreetEasy Valuation, an AI-powered home valuation tool. Homeowners can now get a StreetEasy estimate of their homes’ current market value based on features that are unique to New York City, the company said.
Homeowners start by claiming their home, then requesting an AI-powered estimate of their home’s current market value, an estimated price per square foot and monthly rent. Estimates are viewable by owners only, and availability is subject to sufficient data for a given home, StreetEasy said.
Features that StreetEasy analyzes include a building’s age, history, bedrooms, bathrooms, square footage, amenities and features of the surrounding area, such as parks and public transit as well as ongoing market trends.
“These hyperlocal insights are critical to building an accurate estimate for homes in New York City, given the potential differences in age, price, and amenities even for buildings and units right next door,” the company said.
The difference between StreetEasy’s Valuation tool and the Zestimate tool of its parent company Zillow is access to a private dashboard and the option to be connected with an experienced agent in the StreetEasy Experts network. With the Experts network, prospective sellers are matched with an expert who has relevant experience selling similar properties in their building or neighborhood, StreetEasy said.