Why is zestimate $205k when sales are +/- $60k the sales include single fam when my prop is a condo?

A "Zestimate" is just that... An Estimate of value based on a number of criteria that get mixed into a unique valuation model created by Zillow.

In simple terms you have Tax appraised value, Market Value, Actual Asking prices, Pending Sales and Closed Sales information that you can run with in any given area to arrive at a value.

As to why in your particular case you have a "zestimate" at one higher value and an actual at a lower value is a question of looking much more closely at the property in question relative to the market it is in.

Remember, Zillow like any aggregator of information works on the law of averages and your mileage may vary if your property of interest does not fall within that average. Could be a zip code search or specific area search that dug up both condo and single family.

Knowing your property is a condo should guide you to immediately in discounting or removing the single family properties assuming their isn't some unique element to your condo that makes it "single family home like"...

Either way, if you think there is a real issue or if this is a case of trying to understand value for the sake of selling or buying you need to have a better understanding of market value.

If there is someway I can help you in this process feel free to reach out.
Best,
Adrian

Mark,

I don't think you're going to win business on Zillow Advice with answers like that. You come across as unhelpful and mean-spirited.



Gloria, 

Zestimates are a starting point and aren't the end-all be-all in terms of determining a home's value. I can't speak to the specifics of this situation (you haven't posted an address), but I can tell you that an agent (which you appear to be?) will be able to give a more accurate opinion of what a home is worth than the Zestimate.

Why indeed?