How Accurate are Zillow's Estimates?

By
Real Estate Agent with Coldwell Banker Coastal Alliance

You have to love the fact that Zillow is honest enough to chart their overall accuracy on home pricing. You may be surprised as to how un-accurate they can sometime be!

Michele "K"
FollowMeToHome.com
@LifeinLosAltos

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Topic:
Home Buying
Location:
California Los Angeles County Long Beach Los Altos
Tags:
long beach condos
long beach real estate
coldwell banker
long beach homes for sale
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estimate
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Rainer
236,125
Daniel H. Fisher
www.FisherHermanRealty.com (704) 617-3544 - Charlotte, NC
MCRP - Charlotte Real Estate, NC or SC

A  lot of Sellers do not dig deep into the Zillow methodology.  The margin of error is very high in some areas. But at least they understand the shortcomings of the system - which is the first step towards improvement.

Aug 25, 2011 10:45 PM #1
Rainer
26,917
Michele Kreinheder
Coldwell Banker Coastal Alliance - Long Beach, CA

I agree. Zillow was revolutionary and they are always trying to improve.

 

Aug 25, 2011 11:26 PM #2
Rainmaker
357,020
Donna Yates Real Estate - serving
ReMax Town and Country - Blue Ridge, GA
North Georgia Metro & Mountains

Michele: Thank you for this.  Important for buyers and sellers to understand the accuracy of Zestimates and nice to know Zillow actually provides their own information about that as well.

Sep 23, 2011 12:36 PM #3
Rainer
122,108
Lanise Warrior
Dream Catchers Real Estate - Compton, CA
Carson-Compton Real Estate Specialist

Michele, Thank you sharing this video.  I appreciate your simple analysis which helps me decide whether or no I want to use Zillow in the future.

Oct 21, 2012 01:32 AM #4
Rainmaker
911,652
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Zillow is an absolute joke when it comes to accurately depticting real estate value. I have put together one of the most detailed articles you will see regarding how accurate Zillow home estimates are. Zillow is the bane of all Realtors. We spend countless unnecessary hours explaining to consumers why a computer model can not be trusted for what a home is actually worth.

Jul 17, 2014 01:05 PM #5
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Rainer
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Michele Kreinheder

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