Real estate people I have a question; How does Redfin place an estimate on a house that’s no longer on the market?

Ex: house was listed at 220
House sold at 225
(Appraisal came in at 225 during contract)
Redfin’s new estimate is 290

All within a period of 6 months? (From listing tk current estimate)

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stound

they look at what places close to and similar in size/features have been selling for and throw in a little secret sauce extrapolation.
e.g. if a house in a nearby neighborhood that has the same number of bedrooms sold last week for $300, but your house in a district with better schools... and more/better/easier public transit they estimate it to be... well. close, usually.