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Redfin estimate on my newly listed home has increased significantly since listing

We listed at $465k on Thursday. At that time, the Redfin estimate was $469,999 Yesterday, the Redfin estimate jumped to 522k. The home is a "hot home" and has had a bit of attention. Does their algo consider views for pricing? I'm confused as to why this went up again after the initial bump that happened at listing.

Context:
We have 2 offers in, one at asking & one at 485k w/ escalations of 2k up to 502k. As of now I plan to accept the 485k offer on the Tuesday deadline. BUT...my previously-imagined best case/dream offer was 515k. Between the escalation, the attention, & the Redfin estimate change I'm feeling like that number is a little less delusional.

If no other offers come in before Tuesday, would I be batshit crazy to hold out for a price more than 20k over asking? It will have only been on the market 5 days. We listed at this price based on the advice of our realtor.

submitted by /u/MediumSafe
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source https://www.reddit.com/r/RealEstate/comments/1fy19ld/redfin_estimate_on_my_newly_listed_home_has/
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