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How large of an area does the zestimate cover to calculate home values?

The zestimate for my home (and throughout my neighborhood) appears to include home values outside of my neighborhood which do not represent actual sales of the homes within my neighborhood.  This is causing the homes in my neighborhood to zestimate at $15 to $25 less per sqft.  Actual home sales in my neighborhood are around $100 - $110 per sqft, according to Zillow, where my home (and neighbor's homes) are around $85 per sqft.  How can Zillow change to become more accurate?
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May 11 2012 - Greer
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Answers (1)

Great question, what a zestimate is not is what an appraiser would use to get todays market value for your house or what a comparative market analysis that a Realtor would use . It is still , even using algorithms etc, an estimate and will not, as you say, represent actual sales in your neighborhood.One of the other problems is Zillow cannot go into a house and take into account upgrades like wood floors,new roof,etc and just the quality of the exterior and interior of the home.
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May 11 2012
 
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