Are Zillow’s Zestimates Accurate?
AuthorKelsey Heath. Date:
There’s an innate curiosity that comes with seeing an estimated dollar value attached to our biggest asset. But for those truly looking to understand their home’s market worth, the pressing question becomes: is a Zestimate accurate? We’ve all checked our Zestimate at one point or another or investigated the home values in our neighborhood. As the go-to tool for gaining insight into potential property values, Zillow’s Zestimates have become one of the most relied-upon resources for homeowners and real estate investors. While not a replacement for an appraisal, the Zestimate can offer homeowners and investors a helpful starting point when gauging a property’s worth. But with only an algorithm and impersonal data points to rely on, how close do these calculated figures land to a property’s true worth? Let’s look honestly into how Zillow arrives at its famous Zestimates and clarify what kind of accuracy homeowners can expect from this … Continued
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