Profile picture for cbarger2662

About 2-3 weeks ago I noticed that the estimate for all houses dropped about $20K. What happened?

About 2-3 weeks ago I noticed that the estimate for all houses dropped about $20K. For instance, my house est. dropped about $20k about 2 weeks ago, but your graphs now show my house much lower dating back to 2009. If my house did indeed drop $20k, wouldn't that just show a sharp drop as of recently? 
  • June 28 2011 - North Raleigh
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Answers (5)

Profile picture for Sharon Lewis
Here is the link to further clarify it all for you.
http://www.zillow.com/advice-thread/Zillow-Announces-Zestimate-Improvements/403036/

As a Realtor I do not use a search engine to find out what a house is worth. My clients either hire an appraiser or I do a in-depthI comparative market analysis for them. I have a client who just purchased in North Raleigh, the area they bought seems to be appreciating, not depreciating.
  • July 01 2011
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I believe that Zillow changed the way that they do Zestimates a couple of weeks ago, so Zestimates have drastically changed.
  • June 28 2011
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That value may or may not be accurate.  If you would like, give me a call and I will send you some comparables in your neighborhood.  That would give you a better idea of what is actually happening.  thanks  Mella
  • June 28 2011
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Zillow recently adjusted their algorithm and that changed nearly everyone's Zestimate.  There are a bunch of posts about the new valuation process that you may want to look into if you are interested in more information.  
  • June 28 2011
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Zillow made some changes to the manner in which it calculates Zestimates.
  • June 28 2011
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