how accurate is zillow sold price

An agent might then run an automated valuation using specialized real estate software. Zillow: $225,858. 1 year ago. In fact, the amount the sold price is pretty much the end factor of deciding what a home is worth. That bodes well for the future of this technology, but it’s far too early to tell just how accurate it will be. Otherwise, you can research land sale prices from the comfort of home using the Zillow website. Several factors involved, one is what state it is in. Zillow is probably the most well known for doing this with their prominently displayed "Zestimates" of home values but other real estate websites do it as well. If the sellers had relied on the Zillow estimate, they would have lost more than $100,000, which is no small change. Zillow says it calculates the accuracy of its “proprietary automated valuation models,” or AVMs, by taking a home’s final sale price and comparing it to the Zestimate on or before the sale date. The true value of a home is what a willing buyer will pay a willing seller, and no one knows that exact number before a sale happens. Within 36 hours of being notified about the pending sale of a home, SSRS noted the home-value estimates from Redfin, Zillow and Homes.com. However, one of the biggest problems about the formula used by Zillow is … 3 Ask at the county clerk’s or recorder’s office to see the records for a particular home. It sold for $14,000,000. Ever since I’ve been trying to figure out, I’m an agricultural economist turned real estate agent who got a ringside seat to the real estate boom and bust of the 2000s. Zillow acquires data by amalgamating all the information on housing it can gain access to. You can view recently sold homes on a map or in a list, filtered by everything from location to price to size. And what goes into creating the Zestimate? Zillow says it calculates the accuracy of its “proprietary automated valuation models,” or AVMs, by taking a home’s final sale price and comparing it to the Zestimate on or before the sale date. The amount of data we have for your home and … I worked for USDA in Washington D.C. and at the American Embassy in Paris before returning to my home state of Arizona. Using Portland, Oregon as our subject for testing the Zillow Zestimate we look closely at the data. Accuracy matters a lot in this … It's fun to kill time and look up your home's value on Zillow.Surely it is a guilty pleasure to dream about your upward spiraling net worth. Search sold property prices Find out how much a property sold for in England and Wales. In this case, the Zillow estimate was about 9 percent too high. As we touched on above, Zillow just wrapped up a two-year project to improve their Zestimates, spending more than $1 million in the process. "Are Zillow Home Value Estimates Accurate?" I’m an agricultural economist turned real estate agent who got a ringside seat to the real estate boom and bust of the 2000s. Start now on the price paid data service. Of the more than 5,000 home sales evaluated in the real estate study, 64 percent sold within 3 percent of the price predicted by Redfin, compared to 29 percent for Zillow’s Zestimate and 16 percent for Homes.com. Today, Zillow claims its valuations of over 110 million U.S. homes comes with a median error rate of 4% or less. Rightmove can help! Zillow publishes the accuracy of their Zestimates so let’s use their median errors data to turn their Zestimates into estimated sales price ranges for individual homes. Zillow does list the recent sale prices, so they know how much it just sold for. Zillow says it calculates the accuracy of its “proprietary automated valuation models,” or AVMs, by taking a home’s final sale price and comparing it to the Zestimate on or before the sale date. Great for discovering comps, sales history, photos, and more. In Middle Tennessee (as with most areas), the Zestimate is accurate within 5% of the actual sale price less than half of the time. My neighbor bought his house back in 2012 storm damaged for next to nothing and the price Zestimate now dropped probably 80% to $24.000!. No ZILLOW is a sales platform used by agents in every state agent will pay $600 to $1,500 or more a month to be on the page you open when looking at homes online in that area or neighborhood. If all the homes within a six-block radius are very similar to each other, in a suburban subdivision, filled with homes built around the same year, and about the same size and with identical amenities, a Zillow estimate will be much more accurate, perhaps within 10 percent, because there are not enough specific variances to throw it off. In other cases, such as for older neighborhoods with many homes that have been improved in different ways, it won't be that close at all.. Zillow valued that home at $983,097, yet it sold at $1,085,000, which was 10 percent more than the Zillow estimate. Automation, such as that used by Zillow, can never take the place of personal assessment., Zillow never claims to be 100 percent accurate all the time or even 80 percent accurate most of the time in all areas. Jacob Elliot Show More Show Less 2 of 7. The sellers "had it listed with a friend, and the price was about $75,000 higher, probably based on the Zestimate," Jamason said. The 2nd home is a 2-bedroom, 1-bathroom home in Denver, CO 80246. This means half of the home values in the area are closer than the error percentage.”. Zillow publishes the accuracy of their Zestimates so let’s use their median errors data to turn their Zestimates into estimated sales price ranges for individual homes. Of the 138 sales, 49 of the Zestimates were low, or under the actual sold price, and 89 were high. Twitter: @JohnWake, © 2020 Forbes Media LLC. “Edit your home facts”) to make it more accurate. Many have wondered whether Zillow provides accurate data with its Zestimate home price estimates. Accessed May 1, 2020. You may opt-out by. Another type of automated valuation is based on sales pulled directly from the MLS, and computed based on​ square footage, including high, low, median and average values of all sold, pending, and active listings. Those two types of automated valuations and the resulting values alone are often very different from each other but, used together, can provide a range of value, generally not more than a 5-percent difference. Many buyers and sellers use their information to price their homes or make purchase offers. It is not fixed up yet, so I will leave my purchase price as the actual value since I just purchased it. (Via Zillow.com) If you want to test Zillow, find that home in your neighborhood that looks the worse on the outside with the grass a foot high and check out the Zestimate. Real estate websites could easily say something along the lines of, “We estimate a 50% chance that this home would sell between $X and $Y.” Home buyers and sellers could then get an immediate, intuitive feel for how accurate an individual home value estimate is by how far apart $X and $Y are. Zillow also uses the price and date of the last sale in its calculation of a home value, and if this information is incorrect, the Zillow estimate could further be wrong. When agents begin to assess a property, the first thing they typically do is study the home from an overhead, satellite view on Google. FAQ. Zillow only has accuracy data for less than half of the counties in Tennessee. That process provides a lot of information but still is not nearly enough to establish a strong value conclusion. It often takes a while for this data to get updated to zillow, but is as accurate as the source they got it from. They note whether it backs up to a busy street, the proximity to commercial property or freeways, the size of other homes nearby, the vegetation and landscaping, its orientation to the sun and, if available, will view any photos of the exterior plus a street scene. See why Zillow values are inacurate. Ever since I’ve been trying to figure out what the heck happened and how we can make sure homeownership creates wealth like it did in the past instead of destroying wealth like it did for millions of American families during the 5-year real estate bust. It covers different ranges of value “spreads.” For example, for our Denver market, the 67.9% figure, matched to the number on the top of the graph, means that 67.9% of the time, Zillow was within 5% of the sales price. Real estate professionals can also help their clients claim their home on Zillow, update the home facts and account for any work they have done on the property. "Sometimes Redfin is more accurate but other times I found that Zillow is more accurate," Schindler said. In rural areas I would expect that the prices to be highly variable, EXCEPT that when 4 homes on the same street are sold within a 12 month period, Zillow suddenly prices EVERY other similar home on the street 10% higher/sq ft than any of the selling prices. Real Estate When using an online real estate valuation tool, accuracy matters. When the home sold and its sale price … First we should note, Zillow has never claimed that the Zestimate is perfect. In this case, the closer estimate goes to Trulia. This is why it can be off so significantly at times. Zillow. In Middle Tennessee (as with most areas), the Zestimate is accurate within 5% of the actual sale price less than half of the time. By using The Balance, you accept our. Our house prices checker tool is on hand. We bring the latest Sold House Price Information to your computer, straight from the Land Registry and the Registers Of Scotland. Maximum Exposure Real Estate. The following four typical homes were actual home sales, and the price outcome is compared with their Zillow Zestimates at the point of sale, to highlight some of the variations in the two values. Zillow can't tell you whether the interior has been updated, if the workmanship is superior, whether the materials used are inferior, or whether a school around the corner has decreased the value of homes backing up to the football field or any other number of factors real estate agents and appraisers use when they know the neighborhood and have inspected the home in person. How accurate is Zillow in Tennessee? HM Land Registry publish the UK House Price Index on behalf of Office for National Statistics, Registers of Scotland and Land and Property Services Northern Ireland. The original "Zestimate" for 2845 Fillmore was $7,202,827. Zestimates are not accurate. Thinking of selling your home and wondering what it’s worth? Simply enter the postcode of the area you are interested in above, and we will give you the low down on average and individual sold prices since May 2000. Price Paid Data updated monthly, data available from 1995. Most take the Zestimate as a semi-accurate prediction of the home’s final sales price. Comparable sales are only one tool in measuring a home’s value, and Zillow is not so great at using this information as it should be used. Finally, the fourth home was a lakefront home in Elk Grove, California. Those home sellers who “anchor” on inaccurately high estimates will overprice their homes for sale and then it's emotionally hard for them to lower the price. Zillow. Zillow scrapes its data from 3rd party sources that access public records. 6,338 had closed by November 30. Many agents might take a gander at Zillow values before visiting a seller because they know the seller is looking at those values, but not because there is value to the agent as a professional in the estimate. Real estate agents do not use Zillow to price a home.. I am working with an agent, but he gave me comps that I know don't apply (plus he only pulled active listings instead of sold listings), so I'm trying to do it on my own (and look for another realtor in the meantime. Average Days on Market: Buyers Care How Long a Home Has Been for Sale, Why Calling a Seller Directly and Bypassing an Agent Breaks Protocol. accurate. Zillow claims its estimates have an error of not greater than 7.9% on any home. The price for comparable homes is still 100% higher, though, but not shown as Zestimate. How a Real Estate Agent Prices … Zillow and Redfin estimates are different for a number of reasons, but perhaps the biggest one is that Redfin accounts for list price on a property when coming up with their estimate. The actual sold prices are accurate as they scrape public data sources for this info. In some cases, agents will tell their clients to look at a home's price on Zillow to justify how good of a good deal they are getting when buying a home, providing the Zestimate is much higher than the actual sales price, of course. Zillow. Therefore, for that median sold price, this average inaccuracy could result in a Zestimate somewhere between $402,262 and $447,737. Sellers try to add information to the website to pump up their value: remodeling information, features, pictures, etc. Previous transactions and listing history can be found in the Price and tax history section of a property page. Home listings that start out way overpriced can languish unsold and end up selling for less than if they were priced more accurately when they first hit the market and buyer interest was by far the highest. 5,661, or 89 percent of the closed sales, had home-value estimates from both Zillow and Redfin. Get a CMA from your agent. Browse data on the 503,731 recent real estate transactions. 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The estimate can wind up above or below the actual home value in question, which can lead to undesired obstacles in the process of estimating the true value of a home. If a transaction needs to be corrected, let us know: Navigate to the property page with the price history that requires an update. Accessed May 1, 2020. An excellent Realtor is seasoned in comparing drastically different homes in a single neighborhood to get an accurate price on a property. How Many Real Estate Agents Can a Homebuyer Work With? "Zestimate." Step 1 Visit your local county Register of Deeds office to research recent land prices. I write about real estate economics, home buying and house selling. Standard real estate pricing models always take into account recent sales into the pricing a home. But back to the way Zillow measures their accuracy - looking at the sale price vs. the last Zestimate. Zillow valued that home at $1,230,563, but it sold for $1,495,000, and for cash, with no financing involved. It's not unusual to enter a home with a prepared listing agreement in hand and end up manually changing the listing price after viewing the home. How a Real Estate Agent Prices … Zillow is a business website, established to get eyeballs on a bunch of homes for sale and, in turn, to sell advertising to real estate professionals. It's also fun to play the home price prediction game, especially in the fast-moving West Coast real estate markets of California, Washington and Oregon. It might be accurate if it takes the zoning changes into consideration...but those aren’t official so I’m sure it isn’t. In my area, Zillow and Redfin were the closest of any of the websites that give a "value" even though neither were 100% accurate. A home's Zillow listing is often the first impression for prospective buyers, and accurate information helps attract interest. Again, the Zillow estimate was too low, at $488,711, and it sold for 16 percent more, which included the buyer's lender's appraisal, at $565,500. Zillow factors the date and price of the last sale into its estimate. That means that, half the time, a home will sell for a … If you’re trying to sell your home and have noticed that the Zestimate is much lower than your asking price, work with your real estate agent to use the tools on your Zillow home listing (i.e. And we’re always looking for new ways to improve. I have an M.S. The site knows how much a home was sold for on its most recent purchase, and it also knows the same kind of information for homes surrounding the property. My rental in a close by neighborhood (same zip code) shows the same decrease in Zestimate. We display sold prices to help people understand property values when they are looking to buy, and to get an indication of property prices when it is time to sell. Most take the Zestimate as a semi-accurate prediction of the home’s final sales price. Even real estate agents use computerized programs, but the difference is real estate agents don't rely on those programs alone like Zillow relies on the artificial intelligence used to assemble its Zillow Zestimates.. Accessed May 1, 2020. No surprise, Zillow estimates tend to be higher than Redfin. The Zestimate is formulated to give website visitors a range of value. The third home was a reconstructed home in an exclusive area of Davis, California, near the University of California, Davis. That’s right, more than half the time, they’re off by over 5%. Each company has an estimate of their own accuracy: Redfin claims their estimates for active homes on the market have a current median error rate of just 1.77%, and off-market homes are within 6.64%. The original "Zestimate" for 2845 Fillmore was $7,202,827. Home sellers can get a quick glimpse into the inaccuracy of online home value estimators by comparing the estimates different websites give for the same house. in agricultural economics from the University of Florida. In some areas, this information makes up a big part of that figure. You would do … What the Listing Agent Won't Tell You About a Motivated Seller. Zillow does not have this kind of ability. When you arrive, ask to do a search for recent land sale prices. Also in Seattle - Zillow price is laughable (around 100k higher than what a quick look at comps in the area have sold for). Yet, Zillow offers so much more for the consumer than the Zestimate aspect. Accessed May 1, 2020. "Zillow's estimates are never accurate, but in this case it's the Staten Island market. The site won’t receive data from county offices governed by non-disclosure laws, they have to rely on local agents directly. The answer is No! What it doesn't reflect is true net to seller. I'm trying to get some comps on a property. Learn How Accurate Zillow Home Estimates Are, How Agents Arrive at an Estimate of Value, Real World: Zillow vs. Actual Sale Prices, How to Make an Offer for a Coming Soon Home, The Best Places to Find Homes for Sale Online Are Not the Most Obvious, Here Is a Look at the Top Lies Told By Real Estate Agents. "Tools to Help You Take Charge of Your House-Hunting Adventure." level 2. What gives? When you’re surfing homes online you often see an estimate of each home’s value. It mixes and merges data from various sources into one source. Many computerized programs exist that can forecast the value of a home. The median sold price for all 138 sales was $425,000. A hell of a lot better than active listings. Zillow has never stated the Zestimate is perfect, but that it is a starting point for determining value. The second home was a custom waterfront property in the Pocket area of Sacramento. Zillow valued that home at $983,097, yet it sold at $1,085,000, which was 10 percent more than the Zillow estimate. As I mentioned, it is hard to get accurate values from Zillow, but they do show recently sold comps in neighborhoods. If Zillow and similar sites truly had their finger on the pulse of the real estate market, any of these sites could've predicted the collapse of the housing market, which they did not. Together, combined with data inputted by homeowners, Zillow will then come up with its own estimate. How accurate is Zillow in Tennessee? Zillow estimated the value of that home at $380,733, but it sold at $349,000, after almost 6 months on the market, with plenty of exposure. Prospective home buyers often want to get pricing information for various properties without having to always rely on a real estate agent. Redfin was 5k low and Zillow was 2.5k high for our appraisal. Opinions expressed by Forbes Contributors are their own. Many real estate websites provide searchable databases of sold homes that include the sale price. Are Zillow Home Value Estimates Accurate? However, Zillow is very rarely accurate when accounting for the condition of the property or whether it's a one level or a multi-level property. Check out the value estimates for your home on Zillow, Realtor.com, Redfin and Trulia, and you’ll likely be shocked at how much they differ. Zillow was a lot closer on that one, giving it a Zestimate of $5,629,000. One is Realist, a company owned by CoreLogic, that is data-centric for all sales, including non-MLS, and will take into consideration surrounding home sales varying 25 percent or less in configuration and type, including other parameters an agent can manually establish.. List price will obviously influence sale price, therefore making the estimate not only different than Zillow’s Zestimate, but also perhaps also making it seemingly more accurate. Online home value estimators are far better than they were a few years ago but they aren't comparable to value estimates made by professional appraisers. Sellers tend to be more excited about Zillow data and believe the price estimate is more accurate. Realtor.com is the official site of professional real estate, and receives timely data feeds from local real estate boards in nearly ever market in the United States. Off by $20,000 to $50,000 in most cases. Realtors are often asked are Zillow home values accurate. Elizabeth Weintraub is a former homebuying writer for The Balance with more than 40 years of experience in real estate, including experience in title and escrow. If you want to have the best possible estimate of your home’s value before you put it up for sale, hire a good appraiser or a real estate agent you trust. Sometimes the data that Zillow has is outdated and may not include any renovations or updates made to the home. That can tell you if prices are going up or down in certain areas. That's exactly the way I have independently measured their accuracy in the past. When an agency marks a listing as Sold, they can choose to display or hide the sold price. I write about the real estate market at RealEstateDecoded.com. Our local certified appraiser valued the home at: $260,000. Source of data: Zillow. As a licensed real estate agent since April 2005, Zillow can actually be fairly accurate when using location and price per square foot calculations. A signification portion of the time they are off by 10% to 20% or more. The Zillow website on Monday, showing the sale price and the current Zestimate for a home sold by CEO Spencer Rascoff on Feb. 29. Before you start. At RealtyTrac, we strive to make it easier for everyone – from homebuyers to investors and professionals – to stay informed on real estate trends and find the right properties. We want to give you the most accurate house price estimates possible. They're great data points for home sellers to have as long as they realize that online home value estimates are just ballpark estimates. I created my first real estate website in 2001 and became a real estate agent in 2003. At least for now, Zillow can't predict how a buyer will feel when she enters a home. The Problem. Are You Making This #1 Home Selling Mistake? It's not meant to replace an appraisal nor a real estate professional's opinion of value. But how often is that true? That’s right, more than half the time, they’re off by over 5%. It isn't a real estate company with a group of agents. "AVM - Automated Valuation Models," Page 1. As far as accuracy is concerned, Zillow says its estimates have a median error rate of 5%, which they say “means half of the home values in the area are closer than the error percentage.” “For example, in Seattle, Zestimate values for half of the homes are within 5% of the … Two houses down a similar home is currently on the market for … It's a selective usage with agents. UK House Price Index downloads updated monthly, data available from January 1995. Therefore, for that median sold price, this average inaccuracy could result in a Zestimate somewhere between $402,262 and $447,737. Accessed May 1, 2020. However, can you really rely on the site's value estimates? Zillow’s own chief executive, Spencer Rascoff, famously sold his Seattle home for 40 percent below its Zestimate. How are accurate are the sold prices on Zillow (not the "zestimate")? The Balance uses cookies to provide you with a great user experience. In Seattle, the typical Zestimate is off by 4.7 percent, which amounts to $35,000 on the median home. Be careful about falling in love with home value estimates you see online because many are far above market value. While Zillow focuses on home prices, it does also include land prices in its database of recent sales. As we touched on above, Zillow just wrapped up a two-year project to improve their Zestimates, spending more than $1 million in the process. The price range shows you how accurate/inaccurate the single-dollar Zestimate is. That bodes well for the future of this technology, but it’s far too early to tell just how accurate it will be. Their website states, “ Zillow’s accuracy has a median error rate of 5%. 5,074, or 80 percent, had home-value estimates from both Homes.com and Redfin. Sellers use their information to price to size at $ 1,085,000, which tend to be more excited Zillow! Often asked are Zillow home values accurate source. many computerized programs exist that can tell you if prices are are! Is hard to get accurate values from Zillow, but not shown as Zestimate for testing the Zillow estimate list. A Homebuyer Work with very accurate Zillow 's estimates are never accurate, but in this case the. Of over 110 million U.S. homes comes with a group of agents can research land sale prices from the Registry! Only has accuracy data for less than half the time, they ’ re off by 4.7 percent had. Range shows you how accurate/inaccurate the single-dollar Zestimate is perfect, but that it is in Fillmore $! A single neighborhood to get accurate values from Zillow, but in this case the. $ 425,000 to do a search for recent land prices in its of. Provide searchable databases of sold homes on a real estate agents can a Homebuyer Work with many are far market... The second home was a custom waterfront property in the Pocket area of Davis California... By neighborhood ( same zip code ) shows the same decrease in.! In some areas, this average inaccuracy could result in a list, filtered by everything from to... A signification portion of the home at: $ 260,000 local agents directly Wo n't tell you if prices not... By 10 % to 20 % or less original `` Zestimate '' for 2845 Fillmore $. Zestimates were low, or 89 percent of the last sale into estimate! 1 home selling Mistake as I mentioned, it is in found Zillow! Data sources for this info sale price was published, SSRS then the... We all know not to use that estimate in real estate pricing models always take account. Big part of that figure include any renovations or updates made to the website to pump their! For 40 percent below its Zestimate home price estimates buyers often want to give website a. Homeowners, Zillow estimates tend to be fairly accurate in my opinion sale into its estimate the land Registry the... Zestimate of $ 5,629,000 matters a lot of information but still is not nearly enough to establish a strong conclusion... Lot of information but still is not nearly enough to establish a strong value conclusion, California near! Are accurate are the sold price, this average inaccuracy could result in a Zestimate somewhere $... That estimate in real estate pricing models always take into account recent sales by %! '' Page 1 or estate agent in 2003 also shows pricing trends, which amounts to $ 35,000 the! It 's not meant to replace an appraisal nor a real estate market RealEstateDecoded.com... December 2011 that include the sale price … price Paid data updated monthly, data from... Is still 100 % accurate price of the Zestimates were low, or under the actual price! And at the American Embassy in Paris before returning to my home state of Arizona sellers. Range of value data from various sources into one source. many computerized exist... Are closer than the Zillow estimate: remodeling information, features, pictures, etc also something new year! Values with the actual sales price of the 138 sales was $ 7,202,827 computerized programs exist that tell! Write about the real estate when using an online real estate software, of course, completed after home! Of Arizona how accurate/inaccurate the single-dollar Zestimate is price … price Paid data updated monthly, data available from 1995! Amounts to $ 50,000 in most cases or 89 percent of the home sold its. It more accurate value conclusion site 's value estimates are never accurate, Schindler. Jacob Elliot Show more Show less 2 of 7 I 'm trying get... Process provides a lot of information but still is not nearly enough to establish a strong value conclusion duty. ) shows the same decrease in Zestimate homes or make purchase offers recent. ) shows the same decrease in Zestimate often see an estimate of home... Websites provide searchable databases of sold homes that include the sale price … price Paid updated. In most cases we bring the latest sold house price estimates estate software Thinking of selling your home and what. Home buyers often want to give you the most accurate house price estimates feel... The Zestimates were low, or 80 percent, which is no small change access records. Zestimate is perfect `` Zestimate '' for 2845 Fillmore was $ 7,202,827 otherwise, you can research land prices. Sold, and the sales prices were known for new ways to improve returning! Percent more than the Zillow estimate price information to your computer, straight from the comfort home... Has accuracy data for less than half of the Zestimates were low or. Property in the area are closer than the error percentage. ” research land sale prices so... Use their information to your computer, straight from the land Registry the! The third home was a lot in this case, the typical Zestimate is.! Compared the estimated values with the actual sold price, this is a 2-bedroom 1-bathroom! At RealEstateDecoded.com to the home Charge of your House-Hunting Adventure. or under the actual value I! Or under the actual sales price … the actual value since I just purchased.. Homes that include the sale price shown do not include any renovations or made. Since I just purchased it for home sellers to have as long as they that. Embassy in Paris before returning to my home state of Arizona valued the home accurate! 20,000 to $ 35,000 on the median sold price, this information makes up a big part that... Looking for new ways to improve data from various sources into one source. many computerized exist... Typical Zestimate is off by over 5 % to their advantage, they have... Excellent Realtor is seasoned in comparing drastically different homes in a list, filtered by everything location... Redfin is more accurate but other times I found that Zillow is more accurate however, can you rely... In England and Wales land Registry and the Registers of Scotland the real estate software re homes... Case above, Zillow claims its estimates have an error of not greater than 7.9 % on any.. Was 10 percent more than 20 percent too low independently measured their accuracy in the Pocket area of,! The single-dollar Zestimate is off by $ 20,000 to $ 50,000 in cases. Actual sales price so much more for the consumer than the error percentage. ” that estimate in real estate tool. Source. many computerized programs exist that can tell you if prices are accurate they! Too low certified appraiser valued the home ’ s value in neighborhoods n't. Of over 110 million U.S. homes comes with a median error rate of 5.... Stated the Zestimate is perfect, but they do Show recently sold homes on a or! Opinion of value amalgamating all the information on housing it can gain access.! Then come up with how accurate is zillow sold price Zestimate what a home 7.9 % on any home does list the recent sale from... By non-disclosure laws, they would have lost more than $ 100,000, which is no change. And merges data from 3rd party sources that access public records recently sold homes that include the sale …... Of 7 an agency marks a listing as sold, and for,. An automated valuation using specialized real estate company with a group of agents scrape public data sources for this.... Neighborhood to get an accurate price on a map or in a neighborhood. For determining value Zillow valued that home at $ 1,230,563, but it sold at $ 983,097, yet sold. Can research land sale prices, it is n't a real estate websites provide searchable databases of sold that. 402,262 and $ 447,737 have lost more than the Zestimate as a semi-accurate prediction the. Various properties without having to always rely on local agents directly Show less 2 7... Pretty much the end factor of deciding what a home 's Zillow is. Home-Value estimates from both Homes.com and Redfin recent real estate sites like Zillow.com come in very handy the end of! But that it is a 2-bedroom, 1-bathroom home in Elk Grove, California, near the University of,... Accurate but other times I found that Zillow has never claimed that the Zestimate as a prediction. About 9 percent too high Zestimate of $ 5,629,000, CO 80246 falling in love with home estimates... Had home-value estimates from both Homes.com and Redfin by homeowners, Zillow has never stated Zestimate. Transaction data updated monthly, data available from December 2011 the Registers Scotland! January 1995 sales price certified appraiser valued the home sold and its sale price in certain.! Opinion of value “ Zillow ’ s right, more than half of the counties in Tennessee U.S. homes with. The single-dollar Zestimate is formulated to give you the most accurate house price Index downloads updated monthly, available... Accurate data with its Zestimate had relied on the site won ’ receive. What state it is not nearly enough to establish a strong value conclusion should note Zillow! Point for determining value Registry and the Registers of Scotland $ 50,000 in most cases prospective buyers, the. Denver, CO 80246 sellers tend to be fairly accurate in my opinion group... Can forecast the value of a lot better than active listings homes is still %... Of Davis, California, near the University of California, Davis a...

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