Zillow Home Estimates

Dated: May 16 2022

Views: 25

Over the years we get asked a lot are Zillow estimates accurate. That's a great question. A lot of people want to know how accurate Zillow estimates are.

 

I call Zillow estimates a guesstimate, Zillow estimates are actually an algorithm. Zillow looks at the past sales in the area and compiles the data together to give its estimate. This estimate does not know the home's unique features or updates and Zillow has never been in your property.So it doesn't know if you have a finished basement, an in ground pool, new roof, new kitchen, new bathroom.

 

Those estimates don't take into account everything that makes your property unique as well. The Zillow's Zestimates are also looking at distress sales in the area so those Zestimates are calculating the homes that are selling that need rehab and homes that are selling for top dollar.

 

The Zestimate is really just a guesstimate, back when the market was down and home prices were going down, the Zestimate was always higher than what homes are selling for.

 

Now in this market, as we're seeing home prices increase pretty quickly, the Zestimates many times are lower than what a home is selling for and Zestimates are just guessing and the best way to know what a home value is to consult with a local real estate agent who can tell you the trends, who can tell you what homes are trading for and can let you know what features your property has,  makes it stand apart and what the true value will be.

Reach out to us today if you have any questions.

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