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Zestimate

How can home value "zestimate" prices change up to $20K-$30K, with prices going up & down within a 30 day period, yet there have been no home sales in this area for 8-10 months. IE Zestimate showed $162K 30 days ago,up to $189K, now back to $169K.What changes these prices???
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September 25 2012 - Shandaken
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Answers (2)

Please see  "what is a Zestimate?"  It describes the data used for calculation of Zestimates.
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September 26 2012
I don't know there exact algorithm but I had a client prove to me that Zestimates are not always accurate by altering the sqf. of his home on Zillow and then dropping it back down a week or so later. The price of the home doubled almost because he doubled the sqf. but then when he deducted it it didn't drop as quickly. Puzzled me and made me realize that Zestimates are not as accurate as an appraisal. Its just a round about price. :) hope that helps.
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September 25 2012
 
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Zestimate
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Latest answer by Sheri Sanders
September 26 2012 | 2 answers
  • Asked by pambailey1
  • In Pricing
  • September 25 2012
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