Zestimate

(
Pronounced 

ZEST-ti-met

)

The Zestimate® home value is Zillow's estimated market value for an individual home and is calculated for about 100 million homes nationwide. It is a starting point in determining a home's value and is not an official appraisal. The Zestimate is automatically computed three times per week based on millions of public and user-submitted data points. Read more

Learn more about how Zillow calculates your Zestimate, how accurate it is and how you can contribute to the process by clicking the following links.

What is a Zestimate?

The Zestimate® home valuation is Zillow's estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home's value. The Zestimate is calculated from public and user submitted data; your real estate agent or appraiser physically inspects the home and takes special features, location, and market conditions into account. We encourage buyers, sellers, and homeowners to supplement Zillow's information by doing other research such as:

  • Getting a comparative market analysis (CMA) from a real estate agent
  • Getting an appraisal from a professional appraiser
  • Visiting the house (whenever possible)

Zillow also produces a Zestimate forecast, which is Zillow’s prediction of a home’s Zestimate one year from now, based on current home and market information. Learn more about the Zestimate forecast.

Zillow also provides a Rent Zestimate estimated monthly rental price. Learn more about the Rent Zestimate.

FAQs
What's the Value Range?

The Value Range, which is related to the Zestimate, shows the high and low estimated values of a home (e.g., the Zestimate may be $260,503, while the Value Range is $226,638 -- $307,394). The Value Range can vary in magnitude depending on our historical ability to estimate similar homes. A wider range indicates less data are available or there is more volatility in the data. A smaller value range means we have lots of information to help compute the Zestimate and Value Range. When thinking about a Zestimate for a home, we believe it is critical to consider the width of the Value Range for that Zestimate as this is giving you an important clue as to the anticipated accuracy of the Zestimate. For the statistically minded, the Value Range is actually a 70 percent confidence interval.

My Zestimate is too low - or too high. What gives?

As mentioned previously, the Zestimate is a starting point in figuring out the true value of a house. The amount of data we have for the house affects the Zestimate accuracy. If your home facts are incorrect or missing, you can update your facts, which may affect your Zestimate value.

  • Price history and tax history: Check to see if your price history (the sale price and date you bought your home) and your tax history are correct on Zillow. Depending on the area in which you live, this can be a big factor in your Zestimate. If data are missing or incorrect, please let us know. Click "Edit" on your home details page, then "Report Problem With Home."
  • Updates and remodeling explained: Most upgrade information is not in the public records, and is not easily quantifiable. We do not know about home updates and remodels unless they have been reported to the local tax assessor, so those items are not used in Zestimate calculations. While we do utilize user-submitted data that is measurable, (e.g., additional bedroom count, bath count, and square footage) there is no way for us to systematically gather and verify the type of remodel or build information where the value is based upon how the final product appeals to the buyer. Because of this, the algorithm can't use that information.
  • Your home icon on the map: Region boundaries usually do not affect the Zestimate. That being said, if the home icon is in the wrong spot, either Zillow staff or the home owner can correct that. Click here for the Move Home Instructions
I just changed the home facts. When will my Zestimate update?

Updates to your home facts will be factored into your home's Zestimate, but, if the updates are not significant enough to impact the home's value, your Zestimate may not change. In some cases, the altered data will affect the estimates slowly over about a two-month time period. You will not see the full impact of the revision during the next estimate cycle. We refresh Zestimates for all homes three times a week. On rare occasions, this schedule is interrupted by operations associated with algorithmic changes or the deployment of new analytic features.

How does the amount of data affect it?

The number of transactions in a geographic area affects how much we know about prevailing market values of homes in that area. More transactions provide more data and improve the accuracy of the Zestimate. Also, we use public and user-provided data for house attributes, and some areas report more data than others. The more attributes we know about homes in an area (including yours), the better the Zestimate. Remember that homeowners can also update their home facts if they feel they are incorrect or there are missing values, and the updates may affect the Zestimate value.

Is a Zestimate an appraisal?

No. The Zestimate is not an appraisal and you won't be able to use it in place of an appraisal, though you can certainly share it with real estate professionals. It is a computer-generated estimate of the worth of a house today, given the available data. Zillow does not offer the Zestimate as the basis of any specific real-estate-related financial transaction. Our data sources may be incomplete or incorrect; also, we have not physically inspected a specific home. Remember, the Zestimate is a starting point and does not consider all the market intricacies that can determine the actual price a house will sell for.

How do we come up with the Zestimate and what's in the formula?

We use proprietary automated valuation models that apply advanced algorithms to analyze our data to identify relationships within a specific geographic area, between this home-related data and actual sales prices. Home characteristics, such as square footage, location or the number of bathrooms, are given different weights according to their influence on home sale prices in each specific geography over a specific period of time, resulting in a set of valuation rules, or models that are applied to generate each home's Zestimate. Specifically, some of the data we use in this algorithm include:

Physical attributes: Location, lot size, square footage, number of bedrooms and bathrooms and many other details.

Tax assessments: Property tax information, actual property taxes paid, exceptions to tax assessments and other information provided in the tax assessors' records.

Prior and current transactions: Actual sale prices over time of the home itself and comparable recent sales of nearby homes

Currently, we have data on 110 million homes and Zestimates and Rent Zestimates on approximately 100 million U.S. homes. (Source: Zillow Internal, March 2013)

Why do I see home values for the past?

We not only have Zestimates for homes now, we have used massive computing cycles to go back in time to generate historic Zestimates as well. Sound hard? It is, but it's critical because it allows you to see how a home (or an area) has changed in value over the years.

Do you ever change prior Zestimates?

Yes. When major improvements to the algorithm are made, we do re-compute the historical Zestimates for affected homes. Our purpose in doing so is to provide consumers with the best estimate of historical property valuations. A historical Zestimate is not like a historical stock price, which doesn't change after being recorded. A stock price is a record of an actual empirical event (and, as such, shouldn't change). A Zestimate, on the other hand, is an estimate of the market value of a home, and can change when we have a better algorithm to estimate that value.

Note: We never allow future information to influence a historical Zestimate (for example, allowing a sale in 2009 to influence a Zestimate in 2008). Each historical Zestimate only uses information (e.g., prior sales) known prior to the date of a given Zestimate.

Does the Zestimate algorithm ever change?

Yes, a team of statisticians is working every day to make the Zestimate more accurate. Since Zillow's inception in 2006, we have deployed three completely new versions of the algorithm (2006, 2008 and 2011), but incremental improvements are made between major upgrades with new iterations being deployed regularly.

How often are Zestimates for homes updated?

We refresh Zestimates for all homes three times a week. On rare occasions, this schedule is interrupted by operations associated with algorithmic changes or the deployment of new analytic features

Are foreclosure sales included in the Zestimate algorithm?

No, the Zestimate is intended to provide an estimate of the price that a home would fetch if sold in a full-value, arms-length sale (e.g., the sale isn't for partial ownership of the property or between family members). Our extensive analysis of foreclosure re-sales (typically, but not always, real estate owned, or REO, sales) supports the conclusion that these sales are generally made at substantial discounts to comparable non-foreclosure sales. As such, these sales are not used by the algorithm to produce the Zestimate. That is not to say that foreclosure re-sales do not influence the Zestimate at all, as foreclosure re-sales do suppress the sale price of surrounding non-foreclosure homes, and the price signals from these surrounding homes are used by the algorithm to produce Zestimates in that area.

Who calculates the Zestimate and how do they do it?

The Zestimate is created by an automated software process, designed by statisticians, and there is no ability for humans to manually alter the Zestimate for a specific property.

Does Zillow delete Zestimates? Can I get my Zestimate reviewed if I believe there are errors?

We do not delete Zestimates. We monitor customer feedback for systematic issues with the algorithm, but do not change individual Zestimates in response to customer feedback. The Zestimate is designed to be a neutral, unbiased estimate of the fair market value of a home, based on publicly available and user-submitted data. For this purpose, it is important that it be based on identical information about homes (e.g., beds, baths, square footage, lot size, tax assessment, prior sale price) and that the algorithm itself be consistently applied to all homes in a similar manner. This ensures that there is no preference for some homes relative to others nor are there valuations based on facts that are not accessible to all Zillow users. Some homes may be very unique in ways that are not well captured by existing data, and the Zestimate may be less accurate on these homes. To provide more data on your Zestimate, you can post your estimated value and comment in the Owners Estimate section indicating your support for a different valuation.

I don't know of any homes that have sold lately around me, how are you calculating my Zestimate?

The number of transactions in a geographic area affects how much we know about prevailing market values of homes in that area. More transactions provide more data and improve the accuracy of the Zestimate. Also, we use public and user-provided data for house attributes, and some areas report more data than others. The more attributes we know about homes in an area (including yours), the better the Zestimate. Remember that homeowners can also update their home facts if they feel they are incorrect or there are missing values, and the updates may affect the Zestimate value.

Our estimating method differs from that of a comparative market analysis (CMA) done by real estate agents. Geographically, the data we use is much larger than your neighborhood. Often times, we use all the data in a county for calculation. So though there may be no recent sales in the "neighborhood", even a few sales in the area allow us to extrapolate changes in the local housing market. However, the data we gather does allow the models to incorporate the geospatial (neighborhood) patterns of recent sales.

How accurate is the Zestimate overall?

Our accuracy depends on the home data we receive; see our Data Coverage and Zestimate Accuracy table to see how accurate we are in your area. When it comes to unique homes (e.g., luxury mansions, unusual designs) we are less accurate in our Zestimates.

Can I remove the Zestimate while I'm selling my home (it should be higher)?

It's important to remember that Zestimates track the market, not drive it. People ultimately have more fundamental reasons that drive what they choose to buy or not buy. Our data shows that half of all sales are generally above the Zestimate. To provide more data on your Zestimate, you can post your estimated value and comments in the Owners Estimate section. The purpose of the Zestimate is provide data in a user-friendly format to promote transparent real estate markets and allow people to make informed decisions.

Can I use the Zestimate to get a loan?

No, you can't. To get a federally guaranteed loan, a law called FIRREA (the Federal Institutions Reform, Recovery and Enforcement Act) requires an appraisal from a professional appraiser. Without limitation, lending professionals and institutions are prohibited from using the services in making any loan-related decisions. The Zestimate is our estimate of fair market value, a starting point for home buyers and sellers and anyone just plain interested in the value of houses. You can use it in judging market trends, and in calculating all sorts of things for your personal purposes. Click here to view our terms of use.

I have two Zestimates for my home? How do I fix this?

If you see two Zestimates for the same property, you can click on Edit, Report a Problem, then choose incorrect facts from the drop-down menu. However, if you are a homeowner with multiple parcels, and this is the reason there is more than one Zestimate for your address, we match the parcels on record with the county. If you officially combine parcels with the county, they will send us the updated information.

How Accurate is the Zestimate?

The Zestimate's accuracy depends on location and availability of data in an area. Some counties have deeply detailed information on homes such as number of bedrooms, bathrooms and square footage and others do not. The more data available, the more accurate the Zestimate.

Data Coverage and Zestimate Accuracy

Nationally, the Zestimate has a median error rate of 7%, which means half of the Zestimates in an area are closer than the error percentage and half are farther off. For example, in Seattle, Zestimates for half of the homes are within 6.6% of the selling price, and half are off by more than 6.6%.

To improve Zestimate accuracy, we allow homeowners to edit their home facts and then we incorporate this information into our Zestimate calculations.

Be aware that in some areas, we might not be able to produce a Zestimate at all, but we do have some basic information on the homes. The tables below show you where we have Zestimates and other home information.

Metropolitan Area Zestimate Accuracy Homes on Zillow Homes With Zestimates Within 5% of Sale Price Within 10% of Sale Price Within 20% of Sale Price Median Error
Atlanta, GA 1.9M 1.8M 37.5% 64.6% 85.9% 7.0%
Baltimore, MD 946.9K 897.3K 43.0% 70.3% 86.5% 6.0%
Boston, MA 1.3M 1.3M 36.0% 66.3% 90.0% 7.1%
Chicago, IL 3.0M 2.9M 40.8% 65.9% 84.3% 6.5%
Cincinnati, OH 764.2K 696.9K 40.8% 66.9% 85.7% 6.4%
Cleveland, OH 794.9K 727.0K 41.8% 69.6% 86.9% 6.1%
Dallas-Fort Worth, TX 2.0M 1.9M 20.7% 44.6% 79.7% 11.1%
Denver, CO 897.0K 858.0K 40.6% 71.4% 93.2% 6.3%
Detroit, MI 1.7M 1.6M 37.7% 64.5% 85.8% 7.0%
Houston, TX 2.0M 1.8M -- -- -- --
Kansas City, MO 699.4K 669.9K -- -- -- --
Las Vegas, NV 637.1K 637.1K 36.3% 67.5% 88.7% 6.9%
Los Angeles, CA 2.9M 2.9M 40.1% 68.4% 88.2% 6.5%
Miami-Fort Lauderdale, FL 2.0M 2.0M 38.4% 63.2% 84.4% 7.0%
Minneapolis-St Paul, MN 1.1M 1.1M 41.5% 68.4% 89.9% 6.4%
New York, NY 4.2M 4.2M 41.0% 68.2% 85.4% 6.3%
Orlando, FL 803.8K 774.4K 38.4% 65.5% 86.2% 6.8%
Philadelphia, PA 2.0M 2.0M 43.4% 70.1% 85.5% 6.0%
Phoenix, AZ 1.6M 1.5M 49.5% 75.2% 90.9% 5.1%
Pittsburgh, PA 938.7K 869.3K 38.0% 62.4% 81.4% 7.0%
Portland, OR 754.3K 726.6K 37.0% 69.2% 91.7% 6.7%
Riverside, CA 1.5M 1.3M 36.7% 65.5% 87.4% 7.1%
Sacramento, CA 759.8K 678.5K 32.3% 59.3% 85.1% 8.0%
San Antonio, TX 767.3K 674.0K -- -- -- --
San Diego, CA 940.8K 835.5K 45.6% 74.1% 90.8% 5.6%
San Francisco, CA 1.2M 1.2M 21.5% 46.2% 81.2% 10.8%
Seattle, WA 1.2M 1.2M 35.1% 65.1% 89.1% 7.3%
St. Louis, MO 1.1M 1.0M -- -- -- --
Tampa, FL 1.2M 1.1M 38.9% 65.7% 85.2% 6.7%
Washington, DC 1.8M 1.7M 48.3% 76.4% 91.8% 5.2%
State Zestimate Accuracy Homes on Zillow Homes With Zestimates Within 5% of Sale price Within 10% of Sale Price Within 20% of Sale Price Median Error
Alaska 191.7K 142.5K -- -- -- --
Alabama 2.0M 1.6M 38.3% 60.8% 78.6% 7.2%
Arkansas 1.3M 968.3K 46.3% 71.9% 88.3% 5.6%
Arizona 2.6M 2.3M 47.1% 72.9% 89.4% 5.4%
California 10.5M 9.9M 33.8% 61.1% 85.7% 7.7%
Colorado 2.0M 1.8M 40.7% 71.1% 92.3% 6.3%
Connecticut 1.2M 1.2M 43.9% 71.3% 86.9% 5.8%
District of Columbia 162.9K 162.9K 38.0% 62.3% 86.1% 7.3%
Delaware 309.7K 306.9K 44.6% 72.2% 86.7% 5.6%
Florida 8.8M 7.7M 39.2% 65.2% 85.0% 6.7%
Georgia 3.7M 3.2M 36.3% 62.0% 82.8% 7.3%
Hawaii 442.2K 427.2K 38.8% 68.0% 87.6% 6.5%
Iowa 1.2M 1.1M 44.9% 69.9% 86.3% 5.8%
Idaho 596.9K 545.1K -- -- -- --
Illinois 4.1M 3.9M 40.4% 65.5% 83.4% 6.6%
Indiana 2.6M 2.4M -- -- -- --
Kansas 936.3K 910.6K -- -- -- --
Kentucky 1.5M 1.3M 48.2% 73.1% 87.7% 5.2%
Louisiana 1.7M 1.3M -- -- -- --
Massachusetts 2.0M 2.0M 37.8% 66.6% 89.3% 6.9%
Maryland 2.1M 1.9M 41.4% 69.1% 86.7% 6.2%
Maine 492.5K 492.5K -- -- -- --
Michigan 3.9M 3.5M 37.5% 63.8% 84.8% 7.1%
Minnesota 2.0M 1.8M 41.0% 67.5% 89.1% 6.5%
Missouri 1.7M 1.6M -- -- -- --
Mississippi 934.8K 787.1K -- -- -- --
Montana 343.2K 303.3K -- -- -- --
North Carolina 4.0M 3.3M 43.6% 70.5% 86.6% 5.9%
North Dakota 135.3K 109.2K -- -- -- --
Nebraska 801.7K 712.4K 46.6% 74.1% 90.0% 5.3%
New Hampshire 541.0K 541.0K 39.1% 66.2% 85.6% 6.7%
New Jersey 2.6M 2.6M 41.3% 68.5% 86.0% 6.2%
New Mexico 630.4K 581.2K -- -- -- --
Nevada 923.1K 890.3K 34.3% 64.8% 87.6% 7.2%
New York 5.2M 4.7M 39.5% 65.6% 83.3% 6.6%
Ohio 4.5M 3.9M 41.2% 68.3% 86.3% 6.3%
Oklahoma 1.5M 1.3M 42.8% 70.1% 85.1% 6.0%
Oregon 1.4M 1.4M 37.1% 68.1% 89.6% 6.8%
Pennsylvania 4.6M 4.3M 40.1% 65.7% 82.5% 6.6%
Rhode Island 364.8K 342.5K 37.0% 63.4% 84.4% 7.3%
South Carolina 2.1M 1.8M 39.3% 64.9% 82.8% 6.7%
South Dakota 137.7K 130.0K -- -- -- --
Tennessee 2.9M 2.6M 37.6% 61.6% 78.3% 7.2%
Texas 8.5M 7.6M -- -- -- --
Utah 820.3K 774.3K -- -- -- --
Virginia 2.7M 2.6M 50.7% 78.8% 92.6% 4.9%
Vermont 272.9K 0 -- -- -- --
Washington 2.5M 2.4M 37.3% 65.8% 88.3% 7.0%
Wisconsin 2.1M 1.7M 43.8% 71.1% 87.9% 5.9%
West Virginia 1.1M 732.0K 36.2% 55.3% 76.0% 8.4%
Wyoming 213.5K 0 -- -- -- --
RegionZestimate AccuracyHomes on ZillowHomes With ZestimatesWithin 5% of Sale PriceWithin 10% of Sale PriceWithin 20% of Sale PriceMedian Error
All 50 States 109.7M 98.3M 37.7% 64.0% 84.8% 7.0%
Last updated: August 27, 2014

* Click on a state to see detailed county data (accuracy based only on counties for which we have data)
Note: Zestimate accuracy is computed by comparing the final sale price to the Zestimate on or before the sale date.

Click here to download an Excel spreadsheet of this data.

Definitions

Zestimate Accuracy/Star Rating:
This rating is tied to the Median Error in an area. The ratings are as follows:
  • Four Stars = Best Zestimate
  • Three Stars = Good Zestimate
  • Two Stars = Fair Zestimate
  • One Star = Tax assessor's value, or unable to compute Zestimate accuracy
  • 0 stars = No valuation
Homes on Zillow:
This indicates the percentage of homes for which we have data (e.g., number of bedrooms or bathrooms) in a particular locale. These are the homes you can find via maps or search on Zillow.com.
Homes With Zestimates:
We can only calculate Zestimates for homes where we have certain data, including transactions. This column indicates the percentage of homes in an area with Zestimates.
Within 5% of Sale Price:
This is the percentage of transactions in a location for which the Zestimate was within 5% of the transaction price. Nationwide, Zestimates are currently within 5% of the final sale price 38.4% of the time.
Within 10% of Sale Price:
This is the percentage of transactions in a location for which the Zestimate was within 10% of the transaction price. In the U.S. as a whole, Zestimates are currently within 10% of the final sale price 63.6% of the time.
Within 20% of Sale Price:
This is the percentage of transactions in a location for which the Zestimate was within 20% of the transaction price. Nationally, Zestimates are currently within 20% of the final sale price 83.1% of the time.
Median Error:
Half of the Zestimates in an area were closer than the error percentage and half were farther off. The median error rate for the country is currently 6.9%, meaning half of Zestimates nationwide were within 6.9% of the final selling price, and half are off by more than 6.9%.
Can the Zestimate be updated?

The short answer is yes. Since our data comes from public records, the information can be outdated or missing. Since the amount of data we have for a home affects the Zestimate accuracy, it is important that you review your home facts and update the information, if necessary. By updating your home details, it could affect the Zestimate. See how to update home facts.

By updating your home facts (such as number of bedrooms or square footage), your Zestimate value and Rent Zestimate could be affected. To update your facts, you must first claim your home.

Once you have claimed your home, verify the home facts are correct. Update the number of bedrooms, bathrooms, home size or lot size by clicking "Edit home information." You can also add architectural style, roof type, heat source, building amenities and more. Learn more about editing home facts.

Claim your home to edit home facts now

How can real estate pros work with the Zestimate?

Real estate professionals sometimes get inquiries from prospective real estate buyers and sellers about the Zestimate. Understanding how the Zestimate is calculated, along with its strengths and weaknesses, can provide the real estate pro with an opportunity to demonstrate their expertise.

Millions of consumers visit Zillow every month. Most understand that the Zestimate is exactly that, an estimate of the value of a home. Occasionally however, someone will come along that insists on setting the price they are willing to buy or sell for based solely on the Zestimate.

Education is the key. As a real estate professional one thing you are always doing is educating your clients on all things real estate. The Zestimate is no different. Armed with an understanding of how the Zestimate is calculated and the Zestimate Data Accuracy table, you can explain - and show Zillow's own accuracy numbers and talk about why the Zestimate is a good starting point as well as a historical reference, but it should not be used for pricing a home.

Be proactive. Look at what Zillow says about properties your client is interested in and bring up any concerns before your client does.

"Zestimate calls" tend to come from consumers who are highly engaged and interested in real estate. If a consumer is to the point where they are examining Zestimates and pricing, they tend to be further along in their search for a home and agent than most.