COVID-19 and Zestimates: Will Valuations Be Impacted?

Zillow publishes Zestimate home valuations for 97.5 million homes across the country. To calculate a Zestimate for any given home, Zillow uses computer models that incorporate data such as county and tax assessor records, feeds from hundreds of listing services and brokerages, and home facts and features. As the data changes, so does the Zestimate.

Fewer listings may result in short-term impacts

Recent home sales and new for-sale listings also affect the Zestimate. Both sales and listings have slowed due to COVID-19 concerns, making it harder to calculate Zestimates. As of May 3, 2020, new listings were down 39% compared to the same time last year.

Many other factors are considered

Zestimates rely on more than recent sales in one neighborhood or ZIP code. The home's physical attributes, historical information and, if listed, on-market data all play a role. The Zestimate model also looks at similar neighborhoods. By using data from a larger geographical area, even a few sales in that broader area allow us to extrapolate trends to the local housing market.

As local housing markets adapt to the new conditions, Zestimates and forecasts may change too. To learn more about the Zestimate and how it’s calculated, please see our Zestimate FAQ.

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