Prediction Results and Limitations

My model, trained and tested on more than 76,000 home sales in highway towns, predicted that my in-laws’ home value will increase by 35%. Congrats!

Limitations

In-laws: before you get too excited - I should mention the limits of this estimation.

First, as you know, I am not a real estate expert of any kind, so don’t take this figure as expert advice. It’s just an estimate.

Second, this estimation was made based on house sales in highway towns (Cary, Morrisville, and Apex). A better way to think of the result is, “If our house were plopped down at random in Cary, Morrisville, or Apex, it would be worth 35% more.”

Third, home value won’t change overnight. A recent study of real estate values and highway infrastructure in North Carolina (including NC-540) found that it takes, on average, about 6-8 years for highway infrastructure’s effect on home prices to mature. So, the 35% gain in value would likely only mature by 2029-2031.

Fourth, this estimation is unique to your home, based on several factors, including its size, acreage, age, and proximity to the highway, RDU, and Raleigh. This shouldn’t be taken as a blanket estimation of your neighbors’ home values.

Finally, all of these estimates assume that your home has stayed exactly the same as its original sale conditions. Any change to the property could impact your home’s value, and my model doesn’t take this into account.