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Difference between Zestimate and asking price search

Is there some way to search the difference between Zestimate and asking price for homes for sale?
  • July 08 2012 - US
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Answers (4)

Profile picture for blank screen EXILED
It used to be extremely easy to download the "search results" to add the additional column in Excel and do the sort desired (in beginning 2011), with the "list mode" search results.

But Zillow discontinued that result display mode within 2 months of introduction due to:
1) Too many complaints about the format
2) Less than 2% of the people chose that format when 2 other formats were available to chose from.
3) People that chose that mode for the most part were not opening the home details pages, defeating the point of the search as far as Zillow was concerned. (Since advertisers pay for "page views").
4) Bulk copying of any of the data violates Zillow's "terms of use" and makes Zillow's data providers very unhappy.

There is no way to get an "appraised" value on a website like this.  The only way to get an appraised value is to pay for it.  A machine estimate (AVM --- Automated valuation model) is not an "appraisal", and neither is a "tax assessed value").

Besides, most people asking that question (which actually occurs frequently) are looking for properties that have low asking prices compared to the estimate, thinking that means "bargain", when that is not what it mean at all.  Low asking price to estimate ratio means "fixer", and typically "neighborhood issues".  High asking price to estimate ratio usually means "recently renovated since last purchased".

On the local info pages for your desired Zip Code, you can download median and upper/lower tier medians of the Zestimate trends.  And can also download "average list price" for the zip code and average sold price trends...  But all that will tell you is the estimates track the sold prices.
The "accuracy" data that Rachel referenced indicates that the Zestimate "distribution" does not follow a "normal distribution curve", but is more "peaked" having a kurtosis greater than 1.  The "70% confidence interval" on each of the individual Zestimates on the home details pages indicates the skew of the estimates is about zero most of the time, and averages to zero.  I did test this when the "list mode search results" was available, and found the skew of the estimates was Zero, except in the very high value houses, where there tended to be a positive skew and estimates tend to be on the "low side", with the estimate to list price ratio decreasing linearly with the increase in list price (above $1.5 million).  Zillow tries very hard to keep the skew on their estimates "zero".  But it is much harder to do where there are very sparse sales in an area in a given price range.

  • July 09 2012
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Profile picture for user204602
OK, no search by Zestimate/asking price difference, is there a spreadsheet  download by zip code containing asking price and appraised price or Zestimate? I can run my own diff
Den
  • July 08 2012
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No, but you can check out he accuracy for you area for Zestimates in the this section: Data Coverage Zestimate Accuracy
  • July 08 2012
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Profile picture for wetdawgs
No, that feature is not available.     More important than the Zestimate is the value range, IMHO.  The value range is the 70% confidence interval of the home price. (please see "what is a Zestimate?")
  • July 08 2012
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