Want to know why the value of my property in Millburn, NJ has been trending down compared to others?

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I own a property in Millburn,NJ.  I've been a big fan of your site and have used it to research home values before I bought the place in 2007 and continue to use it to track my property value.  In the past 6 months the value of my property has been trending down and it seems to be not in line with earlier value which was comparable to the other properties on the street.  I don't have plans to sell but am very concerned about the downward trend?
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January 02 - Millburn
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Best Answer
Profile picture for Livingston NJ
Don' be concerned.
The zesimate has little, or no, relationship to actual market value.

There are disclaimers and explanations about this, here, on the site, but consumers find it upsetting when seeing a lower than expected number attached to their home.

My best advice- forget the zestimate.
You live in a wonderful town with wonderful schools and easy commute to the city........enjoy living there!
For the record - my zestimate  is 15% HIGHER than what I could realistically get......and I also am forgetting about it (if only!).

As an FYI - to make yourself feel better - You might want to "claim" your home and edit any facts that are not correct, or rmake additonal comments regarding improvements you have made.

Happy New Year!
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January 02
Profile picture for summer70

Thanks Debra for your thoughful insight.  That was of great help.

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February 08
 

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QuestionWant to know why the value of my property in Millburn, NJ has been trending down compared to others?
  • Latest answer by summer70
  • February 08
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