Profile picture for user65702497

Does the Zestimate range of a house for sale go up or down depending on what the owners asking price

  • September 13 2013 - Lake Worth
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Answers (3)

Profile picture for user65702497
No homes have been sold in the neighborhood for nearly a year.  the zestimate has only started going up since the home went up for sale three weeks ago.  It happens to be located on the intercostal waterway and I know the value of being on the water makes it a more desirable home than ones across the street and not on the water. What I find interesting,  the houses on either side which are also on the intercostal, the zestimate hasn't changed much while the home for sale has gone up considerably  in the last two weeks....the high end of the zestimate range has increased about $100,000 in such a short time.  the homes asking price is $950,000...an old 50s style smaller home...I still wonder if the zestimate range could have been effected by the asking price....like I said, the next door neighbors houses haven't increased much.  The house has not been remodeled or added onto in the recent past.  This home is in the West Palm beach area.  Thanks for any additional responses to this question.
  • September 13 2013
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Profile picture for wetdawgs
The asking price is not part of the formula used for calculating the Zestimates.   You can see what Zillow uses in their formula in their FAQ "What is a Zestimate?"  (Click on Zestimate at the bottom of the page.)

It is not unusual for there to be an adjustment in the Zestimate when the home goes on the market as a consequence of the owner or agent editing incorrect data and/or adding more data.    When home facts are edited, it takes about two months for the full impact to be seen in the Zestimate. 
  • September 13 2013
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Sorry for the non-committal answer but it depends. If you've followed Zestimates for a while, it is apparent that sometimes a house's value changes within 30 days of the house or one of its neighbors house being listed. But if you've followed Zestimates for a while, you'll note that that's not always the case. I will say this - it's not going to hurt the Zestimate.
  • September 13 2013
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