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AVM model details: Norway

Performance metrics for AVMs in this location.

Model type

Select the type of valuation model you want to view.

List price estimation model

Estimates list prices in this location from historical data and market trends.

Key performance metrics

Median Absolute Percentage Error (M. MAPE)16.3%Half of our predictions are within this percentage of the actual value
Testing R² Score0.750How much of the price variation our model explains
Root Mean Square ErrorNOK 2,291,770Average prediction error in the local currency
Mean Absolute ErrorNOK 1,227,969Average absolute difference between predicted and actual

Accuracy distribution

Percentage of predictions within various error ranges

Within 5%17.4%
Within 10%33.3%
Within 15%46.2%
Within 20%58.6%

Prediction bias analysis

Does the model tend to overestimate or underestimate?

Mean Bias-NOK 288,659Average prediction bias (+ means overestimate)
Median Bias+NOK 2,244Typical prediction bias
Over-prediction Rate50.0%Percentage of predictions that are above the actual value
Under-prediction Rate50.0%Percentage of predictions that are below actual value

Error distribution percentiles

The absolute error amount at different percentiles - for example, '90th percentile: NOK 50,000' means 90% of predictions have errors less than NOK 50,000

Percentile10th25th50th75th90th95th
Error AmountNOK 112,721NOK 306,559NOK 681,776NOK 1,393,803NOK 2,645,552NOK 3,965,437

Model configuration & training

Training Samples6462
Testing Samples3827
Training R²0.800
Testing R²0.750
Last Updated2026-11-11

Additional performance metrics

Mean Absolute Percentage Error24.8%Average percentage error across all predictions
Forecast Standard DeviationNOK 2,273,521Spread of prediction errors
Coefficient of Variation43.2%Relative variability of predictions
10th Percentile Error %2.9%10% of predictions have error less than this
90th Percentile Error %49.7%90% of predictions have error less than this