Massive decrease in Zestimate

Profile picture for homebod2
Home decreased nearly 20% (from $259, 000 to $207,600) from 6/10/2011 to 6/16/2011.  All graphs had been changed also.  The 6/16/2011 report (the 20% drop over the previous Zestimate) went further to say that the Zestimate of $207,600 somehow represented a 30-day change of +$5,600.  What is going on?  Since we are planning to sell our home, this seems to make your site unpredictable since we know "savvy" buyers & realtors check it before pursuing a purchase.
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June 17 2011 - Manchester
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Answers (2)

Profile picture for homebod2
Read all about the new algorithm enhancements.  However, I monitor all the home Zestimates in our subdivision and only 1014 Treetop Trail and 1046 Treetop Trail were drastically reduced (I consider 20% to be a significant amount) in the list of 85 homes.  The same formula/consideration should have been evident in every Zestimate, so please explain.
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June 17 2011
Profile picture for wetdawgs
Zillow rolled out algorithm enhancements for the Zestimate the evening of June 13.   You can read more throughout the board, but this would be a good starting point.
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June 17 2011
 

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