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
long beach realtor
long beach
estimate
zillow

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Rainer
230,323
Daniel H. Fisher
MCRP - Charlotte Real Estate, NC or SC
www.FisherHermanRealty.com (704) 617-3544

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.

August 25, 2011 10:45 PM
Rainer
26,917
Michele Kreinheder
Coldwell Banker Coastal Alliance

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

 

August 25, 2011 11:26 PM
Rainmaker
352,037
Donna Yates Real Estate - serving
North Georgia Metro & Mountains
ReMax Town and Country

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.

September 23, 2011 12:36 PM
Rainmaker
121,958
Lanise Warrior
Carson-Compton Real Estate Specialist
Dream Catchers Real Estate

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.

October 21, 2012 01:32 AM
Rainmaker
908,291
Bill Gassett
Metrowest Massachusetts Real Estate
RE/MAX Executive Realty

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.

July 17, 2014 01:05 PM
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Rainer
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Michele Kreinheder

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