June 7th
Uncategorized

The Accuracy of Zillow Zestimates

On Zillow it says that my home is worth “X.” In my experience both buyers and sellers begin their home search on the internet. Zillow is an excellent tool to begin your research, but it’s just not very accurate. The company is based in Seattle, and admittedly does not verify the square footage of a home, number of bedrooms, and/or […]

On Zillow it says that my home is worth “X.”

In my experience both buyers and sellers begin their home search on the internet. Zillow is an excellent tool to begin your research, but it’s just not very accurate. The company is based in Seattle, and admittedly does not verify the square footage of a home, number of bedrooms, and/or baths. Since it doesn’t actually look inside the home it cannot judge the true quality beyond its sales history. Check out this chart on Zillow.

In San Francisco, only 31 percent of Zestimate values are within five percent of the actual sales price. Seventy-six percent of homes in San Francisco are within 20 percent of the sales price. That discrepancy is huge considering 20 percent is the amount of equity most owners put into their house. I consider Zillow to be useful for the high level view, but be aware of its inaccuracies and don’t put your full trust in it when it comes to precise figures.

Please contact me for a free and no obligation opinion-of-value of your home. I’d love to help provide you with an accurate and trusted property estimate and market update of your area. Send an email to bbrock@mcguire.com or call (415) 672.0240. You can also check out my website www.brookebrock.com to learn more.


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