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I recommend looking at the Zestimate, the Redfin estimate, and the three estimates that Realtor provides (CoreLogic, Collateral, and Quantarium). Chances are at least one of these will be off, but if most of them agree on a general range, it should be close to that.
- How accurate is Zestimate on Zillow : r/homeowners - Reddit
In all seriousness, the Zestimate is wholly inaccurate....
- How accurate is the zestimate (from the zillow site)? - Reddit
The zestimate works the exact way a realtor determines...
- How accurate is Zestimate on Zillow : r/homeowners - Reddit
In all seriousness, the Zestimate is wholly inaccurate. Zillow lost over 1 billion dollars in 2021 when they were using their Zestimate to buy and sell houses. On $400k houses, I have seen Zestimates that were $200k and Zestimates that were $600k.
The zestimate works the exact way a realtor determines value, buy assessing what similar houses have sold for in your area. It gives you a general idea, but the algorithm is still not as sophisticated as a human realtor.
21 Απρ 2021 · The Zestimate for off-market homes has a median error rate of 7.3%. The Redfin Estimate for off-market homes has a median error rate of 6.94%. “The accuracy for an on-the-market home is better...
16 Οκτ 2024 · According to Zillow, the Zestimate is highly accurate, with a median error rate of 2.4% for on-market homes and 7.49% for off-market ones as of Sept. 1, 2024.
17 Ιαν 2024 · The accuracy of Zestimates varies based on location and the availability of local data. The more publicly available data in a given area, the more accurate the Zestimates in that area will be. Zillow publishes its data coverage and estimated margin of error for specific areas.
16 Ιαν 2024 · A Zestimate is considered less accurate than a professional home appraisal. It’s a computer-generated home value estimate based on publicly available data, while an appraisal is a property valuation completed by a state-licensed appraiser.
