Are Zillow Zestimates Accurate

Dated: 11/06/2015

Views: 932


OK, let's face it. Zillow is probably the most popular real estate website there is. People just love looking at the great pictures, they have that down. They also love those Zestimates or home value estimates they provide.

They have a disclaimer stating that "Nationally, the Zestimate has a median error rate of 8%, which means half of the Zestimates in an area are closer than the error percentage and half are farther off. For example, in Seattle, Zestimates for half of the homes are within 6.6% of the selling price, and half are off by more than 6.6%."

Now let's take a look at a prime example. The CEO of Zillow, Spenser Rascoff has his home on the market for $1,199,000 yet the Zestimate for his home is $1,495,212 that is about a 20% difference. The numbers may be changing a bit. Check it out at http://www.zillow.com/homedetails/3808-E-Madison-St-Seattle-WA-98112/48956614_zpid/

So if the CEO of Zillow who has his home listed with a Real Estate Agent in the NWMLS and can't get what his Zestimate says his home is worth, just how accurate and trustworthy are these Zestimates for your home?

Michael Eisenberg

Michael was born and raised in Brooklyn NY. He graduated from Brooklyn College with a degree in Mathematics. His first job out of college was as an engineer tracking satellites. His last career before....

Latest Blog Posts

Beautifully Remodeled Classic 2 Bedroom 2 Full Bath Open Concept Bellingham Home

$349.000 2 Bedroom, 2 Bath, 988 Sq Ft.Beautifully remodeled classic 2 Bedroom, 2 Full Bath open concept home! Move in ready! All new windows, Stainless Steel Appliances, quartz countertops, updated

Read More

Best Eastside Investment Condos 2BR 2BA With Parking Under 400000

These are the best investment condos on the Eastside (Kenmore, Bothell in King County, Woodinville, Redmond, Kirkland, Bellevue, Issaquah, Sammamish) with 2 bedrooms, 1.75+ bathrooms, and at least

Read More

New Listing May Be Last 2 Bedroom Condo In Bellevue Near Microsoft Under 400000

RIDE IN THE REAL ESTATE TIME MACHINEI wish I could whisk my clients today in a time machine back to 2011 and 2012 to purchase homes at low prices.  This seller picked up this nice Microsoft

Read More

Happy First Time Buyer In DuPont Washington

FIRST TIME MILITARY BUYER IN DUPONTYesterday I handed over the keys to my first-time, military buyer, Julia.  Julia turned up at my recent open house in Dupont.  A neighbor told me that

Read More