- Find a Real Estate Professional
- Kingston Realtors®
- Kingston Mortgage Lenders
- Kingston Home Improvement Pros
- Kingston Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Realtor® Advertising
- Join the Professional Directory
Answers (5)
Best Answer
- Melina Tomson, "Melina Tomson"
- Contributions:290
You know I was curious about this for Salem (my area) so I did a mini study for a month in 2009. In Salem the Zillow Zestimate was off (ie high) an average of 14.2%. 41.3% of the time, the Zestimate was within 5% of the actual sales price.
The Zestimates tend to be fairly accurate for newer cookie cutter construction where there isn't a lot of varation or in older neighborhoods where there isn't a lot of variation (like a bunch of ranch styles houses, for example). The Zestimates tend to be way off on older historic homes which are vastly different, unique homes, and then homes that have a big defect like backing to power lines, busy streets, etc. If you back to a greenspace, park etc, Zillow tends to miss the mark a bit for positive traits as well.
Anyway, that is my experience. The more cookie cutter your house is, the more accurate the zestimate tends to be in my experience.
The Zestimates tend to be fairly accurate for newer cookie cutter construction where there isn't a lot of varation or in older neighborhoods where there isn't a lot of variation (like a bunch of ranch styles houses, for example). The Zestimates tend to be way off on older historic homes which are vastly different, unique homes, and then homes that have a big defect like backing to power lines, busy streets, etc. If you back to a greenspace, park etc, Zillow tends to miss the mark a bit for positive traits as well.
Anyway, that is my experience. The more cookie cutter your house is, the more accurate the zestimate tends to be in my experience.
- Barbara Wyatt, "puna"
- Contributions:9
I agree that the newer the home the more accurate the price is, otherwise you can see that they they tend to be off by 10 to 20%
You can call me for a CMA if you would like.
Jeannie [Content removed by moderator due to self-promotion]
You can call me for a CMA if you would like.
Jeannie [Content removed by moderator due to self-promotion]
- Yousef Abughazaleh, "Mr.shortsales"
- Contributions:242
Simple answer is 20% over OR under of the actual value..
- sara bonert, "Sara Bonert"
- Contributions:920
Hey Ted - Sara from Zillow here. We actually publish our accuracy numbers for almost every county in the country. If you look at the very bottom of this page, note the gray text link "Zestimates Values and Accuracy". Here you can drill down to your area and we'll show you the number of times we are within 5, 10 and 20 percent of the sales price, and the median err rate for the county. Hope this helps!
How accurate are the Zillow estimates?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.