HOME VALUES

Zillow Home Value Index (ZHVI): A smoothed, seasonally adjusted measure of the typical home value and market changes across a given region and housing type. It reflects the typical value for homes in the 35th to 65th percentile range. The raw version of that mid-tier ZHVI time series is also available.

Zillow publishes top-tier ZHVI ($, typical value for homes within the 65th to 95th percentile range for a given region) and bottom-tier ZHVI ($, typical value for homes that fall within the 5th to 35th percentile range for a given region).

Zillow also publishes ZHVI for all single-family residences ($, typical value for all single-family homes in a given region), for condo/coops ($), for all homes with 1, 2, 3, 4 and 5+ bedrooms ($), and the ZHVI per square foot ($, typical value of all homes per square foot calculated by taking the estimated home value for each home in a given region and dividing it by the home’s square footage). Check out this overview of ZHVI and a deep-dive into its methodology. 

Here’s a handy ZHVI User Guide for information about properly citing and making calculations with this metric.

Data Type ZHVI All Homes (SFR, Condo/Co-op) Time Series, Smoothed, Seasonally Adjusted($) ZHVI All Homes (SFR, Condo/Co-op) Time Series, Raw, Mid-Tier ($) ZHVI All Homes- Top Tier Time Series ($) ZHVI All Homes- Bottom Tier Time Series ($) ZHVI Single-Family Homes Time Series ($) ZHVI Condo/Co-op Time Series ($) ZHVI 1-Bedroom Time Series ($) ZHVI 2-Bedroom Time Series ($) ZHVI 3-Bedroom Time Series ($) ZHVI 4-Bedroom Time Series ($) ZHVI 5+ Bedroom Time Series ($)

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HOME VALUES FORECASTS

The Zillow Home Value Forecast (ZHVF) is the month-ahead, quarter-ahead and year-ahead forecast of the Zillow Home Values Index (ZHVI). ZHVF is created using the all homes, mid-tier cut of ZHVI and is available both raw and smoothed, seasonally adjusted.

Data Type ZHVF (Forecast), All Homes (SFR, Condo/Co-op), Smoothed, Seasonally Adjusted, Mid-Tier (MoM%, QoQ%, YoY%) ZHVF (Forecast), All Homes (SFR, Condo/Co-op), Raw, Mid-Tier (MoM%, QoQ%, YoY%)

Geography Metro & U.S. ZIP Code

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RENTALS

Zillow Observed Rent Index (ZORI): A smoothed measure of the typical observed market rate rent across a given region. ZORI is a repeat-rent index that is weighted to the rental housing stock to ensure representativeness across the entire market, not just those homes currently listed for-rent. The index is dollar-denominated by computing the mean of listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region, which is once again weighted to reflect the rental housing stock. Details available in ZORI methodology.

Data Type ZORI (Smoothed): All Homes Plus Multifamily Time Series ($)

Geography Metro & U.S. ZIP Codes

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INVENTORY

• For-Sale Inventory: The count of unique listings that were active at any time in a given month.
• New Listings: Indicates how many new listings have come on the market in a given month.
• Newly Pending Listings: The count of listings that changed from for-sale to pending status on Zillow.com in a given time period.
• Days to Pending: How long it takes homes in a region to change to pending status on Zillow.com after first being shown as for sale. The reported figure indicates the number of days (mean or median) that it took for homes that went pending during the week being reported, to go pending. This differs from the old “Days on Zillow” metric in that it excludes the in-contract period before a home sells.
• Note: “Weekly” means you can see the metric’s value on a weekly cadence. The CSVs are updated monthly.

Data Type For-Sale Inventory (Smooth, All Homes, Monthly) For-Sale Inventory (Smooth, All Homes, Weekly) For-Sale Inventory (Smooth, SFR Only, Monthly) For-Sale Inventory (Smooth, SFR Only, Weekly) For-Sale Inventory (Raw, All Homes, Monthly) For-Sale Inventory (Raw, All Homes, Weekly) For-Sale Inventory (Raw, SFR Only, Monthly) For-Sale Inventory (Raw, SFR Only, Weekly) New Listings (Smooth, All Homes, Monthly) New Listings (Smooth, All Homes, Weekly) New Listings (Raw, All Homes, Monthly) New Listings (Raw, All Homes, Weekly) Newly Pending Listings (Raw, All Homes, Monthly) Newly Pending Listings (Raw, All Homes, Weekly) Newly Pending Listings (Smoothed, All Homes, Monthly) Newly Pending Listings (Smoothed, All Homes, Weekly) Mean Days to Pending (Smooth, All Homes, Monthly) Mean Days to Pending (Smooth, All Homes, Weekly) Mean Days to Pending (Raw, All Homes, Monthly) Mean Days to Pending (Raw, All Homes, Weekly) Median Days to Pending (Smooth, All Homes, Monthly) Median Days to Pending (Smooth, All Homes, Weekly) Median Days to Pending (Raw, All Homes, Monthly) Median Days to Pending (Raw, All Homes, Weekly)

Geography Metro & U.S.

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LIST AND SALE PRICES

• Median List Price: The median price at which homes across various geographies were listed.
• Median Sale Price: The median price at which homes across various geographies were sold.
• Sale-to-List Ratio (mean/median): Ratio of sale vs. final list price.
• Percent of Sales under/over List: Ratio of sales where Sale Price below/above the final list price; excludes homes sold for exactly the list price.
• Days to Close (mean/median): Number of days between the listing going pending and the sale date.
• Note: “Weekly” means the metric’s value shows weekly details; CSVs updated monthly.

Data Type Median List Price (Smooth, All Homes, Monthly) Median List Price (Smooth, All Homes, Weekly) Median List Price (Smooth, SFR Only, Monthly) Median List Price (Smooth, SFR Only, Weekly) Median List Price (Raw, All Homes, Monthly) Median List Price (Raw, All Homes, Weekly) Median List Price (Raw, SFR Only, Monthly) Median List Price (Raw, SFR Only, Weekly) Median Sale Price (Smooth & Seasonally Adjusted, All Homes, Monthly) Median Sale Price (Smooth & Seasonally Adjusted, All Homes, Weekly) Median Sale Price (Smooth, All Homes, Monthly) Median Sale Price (Smooth, All Homes, Weekly) Median Sale Price (Raw, All Homes, Monthly) Median Sale Price (Raw, All Homes, Weekly) Median Sale Price (Smooth & Seasonally Adjusted, SFR only, Monthly) Median Sale Price (Smooth & Seasonally Adjusted, SFR only, Weekly) Median Sale Price (Smooth, SFR only, Monthly) Median Sale Price (Smooth, SFR only, Weekly) Median Sale Price (Raw, SFR only, Monthly) Median Sale Price (Raw, SFR only, Weekly) Mean Sale-to-List Ratio (Raw, All Homes, Monthly View) Mean Sale-to-List Ratio (Smooth, All Homes, Monthly View) Mean Sale-to-List Ratio (Raw, All Homes, Weekly View) Mean Sale-to-List Ratio (Smooth, All Homes, Weekly View) Median Sale-to-List Ratio (Raw, All Homes, Monthly View) Median Sale-to-List Ratio (Smooth, All Homes, Monthly View) Median Sale-to-List Ratio (Raw, All Homes, Weekly View) Median Sale-to-List Ratio (Smooth, All Homes, Weekly View) Percent of Homes Sold Above List (Raw, All Homes, Monthly View) Percent of Homes Sold Above List (Smooth, All Homes, Monthly View) Percent of Homes Sold Above List (Raw, All Homes, Weekly View) Percent of Homes Sold Above List (Smooth, All Homes, Weekly View) Percent of Homes Sold Below List (Raw, All Homes, Monthly View) Percent of Homes Sold Below List (Smooth, All Homes, Monthly View) Percent of Homes Sold Below List (Raw, All Homes, Weekly View) Percent of Homes Sold Below List (Smooth, All Homes, Weekly View) Mean Days to Close (Raw, All Homes, Monthly View) Mean Days to Close (Smooth, All Homes, Monthly View) Mean Days to Close (Raw, All Homes, Weekly View) Mean Days to Close (Smooth, All Homes, Weekly View) Median Days to Close (Raw, All Homes, Monthly View) Median Days to Close (Smooth, All Homes, Monthly View) Median Days to Close (Raw, All Homes, Weekly View) Median Days to Close (Smooth, All Homes, Weekly View)

Geography Metro & U.S.

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SALES COUNT AND PRICE CUTS

• The Sales Count Nowcast is the estimated number of unique properties that sold during the month after accounting for the latency between when sales occur and when they are reported. Available only for the raw cut of all homes.
• Share of Listings With a Price Cut: The number of unique properties with a list price at the end of the month that’s less than the list price at the beginning of the month, divided by the number of unique properties with an active listing at some point during the month.
• Price Cuts: The mean and median price cut for listings in a given region during a given time period, expressed as both dollars ($) and as a percentage (%) of list price.
• Note: “Weekly” means you can see the metric’s value on a weekly cadence. The CSVs are updated monthly.

Data Type Sales Count Nowcast (Raw, All Homes) Share of Listings With a Price Cut (Smooth, All Homes, Monthly) Share of Listings With a Price Cut (Smooth, All Homes, Weekly) Share of Listings With a Price Cut (Raw, All Homes, Monthly) Share of Listings With a Price Cut (Raw, All Homes, Weekly) Share of Listings With a Price Cut (Smooth, SFR Only, Monthly) Share of Listings With a Price Cut (Smooth, SFR Only, Weekly) Share of Listings With a Price Cut (Raw, SFR Only, Monthly) Share of Listings With a Price Cut (Raw, SFR Only, Weekly) Mean Price Cut ($, Raw, SFR Only, Monthly) Mean Price Cut ($, Raw, SFR Only, Weekly) Mean Price Cut ($, Smoothed, SFR Only, Monthly) Mean Price Cut ($, Smoothed, SFR Only, Weekly) Mean Price Cut ($, Raw, All Homes, Monthly) Mean Price Cut ($, Raw, All Homes, Weekly) Mean Price Cut ($, Smoothed, All Homes, Monthly) Mean Price Cut ($, Smoothed, All Homes, Weekly) Mean Price Cut (%, Raw, SFR Only, Monthly) Mean Price Cut (%, Raw, SFR Only, Weekly) Mean Price Cut (%, Raw, All Homes, Monthly) Mean Price Cut (%, Raw, All Homes, Weeky) Mean Price Cut (%, Smoothed, All Homes, Monthly) Mean Price Cut (%, Smoothed, All Homes, Weekly) Median Price Cut ($, Raw, SFR Only, Monthly) Median Price Cut ($, Raw, SFR Only, Weekly) Median Price Cut ($, Smoothed, SFR Only, Monthly) Median Price Cut ($, Smoothed, SFR Only, Weekly) Median Price Cut ($, Raw, All Homes, Monthly) Median Price Cut ($, Raw, All Homes, Weekly) Median Price Cut ($, Smoothed, All Homes, Monthly) Median Price Cut ($, Smoothed, All Homes, Weekly) Median Price Cut (%, Raw, SFR Only, Monthly) Median Price Cut (%, Raw, SFR Only, Weekly) Median Price Cut (%, Smoothed, SFR Only, Monthly) Median Price Cut (%, Smoothed, SFR Only, Weekly) Median Price Cut (%, Raw, All Homes, Monthly) Median Price Cut (%, Raw, All Homes, Weekly) Median Price Cut (%, Smoothed, All Homes, Monthly) Median Price Cut (%, Smoothed, All Homes, Weekly)

Geography Metro & U.S.

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