How come some (a lot in 85248) show huge spikes in Zestimates?

Profile picture for tandyjames
For instance:

http://www.zillow.com/homedetails/845-E-San-Carlos-Way-Chandler-AZ-85249/59262824_zpid/

Shows it spiked in the past month to over $500K... this is way off reality which is more like $300K.

PS - LOVE the site!!!

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July 07 2010 - Chandler
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Answers (1)

Profile picture for Stephanie Weiss
Tandyjames,

I would not rely on Zestimates for accuracy.  They could be based on properties in the area that are not comparable.

Recent closings in that community reveal the following:

6bdrm/3bath 3,377sf sold on 5/28/10 for $325,000 or $96.24 per sq ft
4bdrm/3bath 3,087sf sold on 3/22/10 for $305,000 or $98.80 per sq ft

Stephanie Weiss
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July 07 2010
 

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