What's a Zestimate value?
The Zestimate home valuation is Zillow's estimated market value for a home, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home's value. Read more about the Zestimate.
Why do you call the Zestimate "a starting point?"
We think of it as just one piece of information for buyers, sellers, and owners. Most will refine it in conjunction with other information they have about the home, an appraisal, or a comparative market valuation from a real estate professional. The Zestimate is pulled from data; your real estate agent or appraiser physically inspects the home and takes special features, location, and market conditions into account. Variations in price also occur because of negotiating factors, closing costs, and timing of closing.
Does every home in the U.S. have a Zestimate?
Currently, we have data on more than 110 million U.S. homes, with Zestimates and Rent Zestimates on approximately 100 million of those homes.*
My house doesn't have a Zestimate. What's up?
It's because we do not have the house transaction history. This is likely because your house is in a "non-disclosure" state (Idaho, Indiana, Kansas, Louisiana, Mississippi, Montana, New Mexico, Texas, Utah, and Wyoming) where transactions are not publicly reported. We do have access to the home details and the tax assessed value, so we are showing you that information.
If the home is not in those states, it might be that we have the tax assessed value, market assessed value, or tax appraised value and home information from local public records, but we do not have sales transactions from our data providers for the area.
How do you know the Zestimate is accurate? How accurate is it?
The Zestimate is a starting point to help a consumer figure out the true value of a home. Our data shows us that the vast majority of Zestimates are within 10 percent of the selling price of the home. (See our Data Coverage and Zestimate Accuracy table to determine how accurate it is in your area.)
What's the Value Range?
The Value Range, which is related to the Zestimate, shows the high and low values of a home (e.g., Zestimate = $260,503; Value Range is $226,638 -- $307,394). The Value Range can vary in magnitude depending on our historical ability to estimate similar homes. A bigger range indicates less data or more volatility in the data. A smaller value range means we have lots of information to help compute the Zestimate and Value Range.
What's the Zillow Home Value Index?
The Zillow Home Value Index (ZHVI), is the median Zestimate for a given geographic area on a given day.
I updated my home facts. Why didn't my Zestimate value change?
Updates to your home facts will be factored into your home's Zestimate, but it may take some time before it's reflected on the site. However, your Zestimate may not change if the updates are not significant enough to impact the home's value. Also, if your home has characteristics that are unique in your area, we may not be able to factor them into the valuation.
Could someone enter incorrect facts to purposely alter their Zestimate?
Most people who claim their homes and update their home facts tend to be sellers, and we've found that sellers are motivated to be truthful. Potential buyers can easily check the facts by going to an open house, looking at the home's flyer, etc. In addition, this content can be flagged by anyone to be reviewed by our moderators.
* Zillow Internal, March 2013
By Diane Tuman