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When do you update values for recent home sales on the same street?

My house is 155 Brookwood Lane, New Canaan, CT 06840.  The house immediately next door at 131 Brookwood Lane, New Canaan, CT 06840 and it just sold (closed) for $1,549,000.  Your Zillow quote for that house was a few hundred thousand dollars lower.  I think you should recalculate the values for all the homes on this street as a result of this recent comparable sale.
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June 10 2012 - New Canaan
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Zillow gets recent sales after they are recorded at the county, then picked up by third party data providers.   The timing varies.  In my area I usually see them 10 to 15 business days after recording.   In another area I track it takes about three months. 

Although the Zestimate itself was about $200k less than the sales price, the Zestimate value range of $864K – $1.99M (a 70% confidence interval) included the sales price by a wide margin.
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June 11 2012
I'm not sure how often Zillow retrieves fresh data from each of the sources it uses for public records, but it definitely does automatically include all nearby, comparable sales in creating the Zestimate. 

If you'd like to comment on your Zestimate directly, check out the Zillow.com FAQ. I cut and paste the link below:

How to Comment on your Zestimate: http://youtu.be/s7F2WnU6xbQ 
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June 11 2012
 
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