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Answers (3)
- CATHY SLOAN
- Contributions:477
Zillow computes the average sales price using the most recent sales. The Zestimates accuracy rate in Jacksonville was plus or minus up to 15% of the value determined by a Realtor. Recently zillow made changes to how they compute the Zestimate. The median accuracy rate as reported by Zillow is around 8.5% currently.
Many factors must be considered in determining actual value. This can only be determined by a Realtor visiting the property and comparing it to other properties of similar conditon, contains similar upgrades, and in a comparable community.
Chances are the zestimate made no adjustments for any upgrades or property condition. If you want a more accurate estimate of value you should contact a local Realtor.
- Nathan Tutas, "Nathan Tutas"
- Contributions:61
Not very accurate unfortunately. In Central Florida Zillow has an admitted error ratio of about 30%.
- Don Maclary, "Don Maclary"
- Contributions:7
Every area may vary but in the Virginia Beach, Chesapeake area it tends to be around 10-15% below what homes are selling for.
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How accurate is a Zestimate?
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