Generating sufficiently sized, relatively homogeneous segments of real property transactions by clustering base geographical units

A method comprising:

• receiving information regarding real property transactions;
• assigning each real property transaction to an appropriate base geographic unit of a plurality of base geographic units based on information regarding a physical location of a real property associated with the real property transaction and statistical information either derived from the information or gathered from other sources about the plurality of base geographic units or defined agglomeration of the plurality of base geographic units;
• building a plurality of relatively homogeneous segments of real property transactions by aggregating one or more of the plurality of base geographic units into clusters based on application of a predetermined similarity function among corresponding numerically valued attributes associated with the plurality of base geographic units on a property type-by-property type basis until each of the plurality of relatively homogeneous segments is of sufficient size to facilitate one or more of accuracy and precision of one or more automated real property valuation models;
• and
• estimating an appropriate transfer price of a real property by applying the one or more automated real property valuation models to a segment of the plurality of relatively homogeneous segments with which the real property is associated.

A method comprising:

• receiving information regarding real property transactions;
• assigning each real property transaction to an appropriate base geographic unit of a plurality of base geographic units based on information regarding a physical location of a real property associated with the real property transaction;
• for each property type of a plurality of property types represented in the real property transactions, creating relatively homogeneous segments of sufficient size to facilitate one or more of accuracy and precision of one or more automated real property valuation models by aggregating one or more of the plurality of base geographic units into a plurality of clusters by applying a predetermined similarity function among corresponding numerically valued attributes of the plurality of base geographic units;
• and
• estimating an appropriate transfer price of a real property by applying the one or more automated real property valuation models to a segment of the relatively homogeneous segments with which the real property is associated.

A method comprising:

• receiving information regarding real property transactions;
• forming a set of segmented real property transaction data by grouping the real property transactions into segments based on a function of one or more attributes associated with the real property transactions;
• assigning each real property transaction of the set of segmented real property transaction data to an appropriate base geographic unit of a plurality of base geographic units based on information regarding a physical location of a real property associated with the real property transaction;
• forming a set of segmented and clustered real property transaction data by grouping the plurality of base geographic units into a plurality of clusters by applying a predetermined similarity function among corresponding attributes of a plurality of numerically valued attributes of the plurality of base geographic units on a segment-by-segment basis and requiring each of the segments of clusters have at least a predetermined minimum number of clustered elements which is defined to facilitate one or more of accuracy and precision of one or more automated real property valuation models;
• and
• estimating an appropriate transfer price of a real property associated with a cluster of the plurality of clusters of the plurality of base geographic units by applying the one or more automated real property valuation models to the set of segmented and clustered real property transaction data.