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Why is a Zestimate not updated when a house is sold for a price outside the Zestimate range?

Here's a house that sold on 8/31/2012 for $235.9k:

http://www.zillow.com/homedetails/1391-Ryan-Ave-W-Roseville-MN-55113/2088136_zpid/

The current Zestimate is $178.5k with a range of $136k - $230k.  So the Zestimate is wrong by 25% and the sale price was 1% higher than even the top of the range.  Why would at least the range not be adjusted?

Why are Zestimates not updated when a house sells?  Zillow cannot take into account the exact condition of the house, but something is still wrong with the algorithm.  The Zestimates are quite obviously wrong-valuing many areas.
  • November 19 2012 - US
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