Profile picture for subkiller

Why are actual sale prices being excluded from the Zillow sale history?

At least 3 sale prices I know of, including 2 from before the current housing crisis (one in 2000 and one in 2004) are excluded because they apparently are too low.  On the other hand I know if two sales (one in 2005 and the other in 2006) where the buying parties paid considerably more than the estimated worth, but they were immediately included.  This seems to render Zillow values artifically high. 
  • December 28 2008 - Lowell
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Answers (2)

Matt did a great job of explaining this, I just wanted to add one more thing.
Different MLSs (Multiple Listing Services) have different rules regarding the archives of sold properties. It's possible that some were left out due to the transfer, or lack therof, from the MLS.
  • February 22 2009
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Profile picture for Mheisler2
You'd have to ask Zillow about their pricing methodology details, but any sites that rely on public information will make errors if the information source that they rely on is incorrect.  You say that the sales were "excluded" because they were too low, but it could be that the source information is incorrect, or got mashed in the transfer to zillow, or , really dozens of things.  Try to remember that a z-estimate is just that, an intelligent estimate, but even zillow can't see the slope of the property, listen to the noise from a highway, or calculate if the floor plan is popular with consumers.  Partner with a knowledgeable agent and you'll learn more detials about how to value property.
  • February 22 2009
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