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What are some reliable sources or ways to stay updated on the Melbourne real estate market in 2023?

**78.8% of homebuyers** in Australia use online real estate websites to research properties, making them a crucial source of information (Source: Real Estate Institute of Australia).

**Listed property prices** in Melbourne can vary by up to 10% depending on the real estate website used, emphasizing the need to check multiple sources (Source: Australian Bureau of Statistics).

**Zestimates**, Zillow's home valuation model, can have an error margin of up to 10% due to limitations in available data and proprietary formula (Source: Zillow).

**Redfin and Zillow** may only show recent comps from 2021 due to data availability and proprietary algorithms (Source: Reddit).

**Analyzing nearby property sales** and listing engagement can provide a more accurate sell-time estimate of a property (Source: Bob Vila).

**Multiple real estate listing sites** should be checked to get a comprehensive view of the market, as each site may have different listings and data (Source: 11 Reasons to Check a Home on Every Real Estate Listing Site Before You Buy).

**The median home price** in Melbourne is affected by national trends, with a nationwide drop of over 20% in some areas (Source: Australian Bureau of Statistics).

**30% of homeowners** in Australia were behind on their mortgage payments in 2020, highlighting the importance of staying updated on the real estate market (Source: Australian Prudential Regulation Authority).

**Real estate agents** can provide valuable insights into local market trends and listings, making them a reliable source of information (Source: InvestFourMore).

**Checking multiple real estate websites** daily, like the MLS, can help identify new listings and aged listings that may be underpriced (Source: InvestFourMore).

**Real estate websites** like Zillow and Redfin use proprietary algorithms to estimate home values, which can be influenced by various factors, including sales tactics (Source: Reddit).

**Library resources**, such as books on real estate and economics, can provide valuable insights into the market and market trends, making them a reliable source of information (Source: Michael Lewis and Gregory Zuckerman).

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