How accurate is Zillow?

**disneysteve** · 03-09-2015, 05:52 PM

I've found that it really depends on the location and the data that is available.

I just checked our home and discovered that our next door neighbor is listed as "pre-foreclosure". Interesting.

**Goldy** · 03-09-2015, 06:52 PM

I used to put more stock into it than I do now. About 18 months ago our house value climbed from 375k to 525k for no good reason. zillow then modified the value equation and the price went back to a normal amount of 400k. However, when they did that the value over time charts changed completely so I consider those garbage. If it were a shift of sorts I could explain it from the new equation but its just so off. In general I think it gets you within 20% of your value.

**bigdaddybus** · 03-09-2015, 07:05 PM

My home looks about 20% overvalued on Zillow.

**ua_guy** · 03-10-2015, 06:44 AM

Zillow seems optimistically high sometimes, or it can be low. I've seen it both ways based on actual sales data, buying and selling. It's usually the higher value compared to a bank appraisal, comparative market analysis, and tax assessment. At least in my experience.

**scfr** · 03-10-2015, 07:36 AM

Based on the 2 homes I've owned since Zillow came in to existence, it's OK but far from perfect. For example, it shows my current home at a value that I think is accurate long-term, but doesn't take in to account that I'm in a "hot" neighborhood in a "hot" city. I'd say it shows a "mean reversion" value, which would be fine for net worth calculation but not as a selling price if I were to list my home right now.

**greenskeeper** · 03-10-2015, 07:47 AM

just checked my house on zillow. It appears to be tracking the balance of my mortgage almost to a tee, maybe 4 months behind or so. I guess my house value is plummeting

**Drake3287** · 03-10-2015, 09:25 AM

They had a mistake on my house, after logging into the site I was able to correct the problem. I think the site's basically pretty good but you still need to verify the facts a little.

**kork13** · 03-10-2015, 10:06 AM

It's good enough to give a VERY general idea, but I wouldn't base any decisions off of it.

My home is worth $179k, according to the market value assessment that my bank tracks for me. I also just received notification that the county is adjusting my home's valuation up by $7k this year, up about 4.5%, to $172k. However, Zillow lists my house at $139k. That's a 20-25% difference in value.

Obviously, that's just one anecdotal example...

**corn18** · 03-10-2015, 01:02 PM

I think Zillow is high by 10% on my house but the same house as mine just sold for the zillow estimate right across the street. There are a lot of comps that have sold recently and they are close to the zillow estimate so maybe I could make more money than I think. Doesn't really matter as none of it goes into any of my planning, just never had a house with equity before.

**LivingAlmostLarge** · 03-12-2015, 11:32 AM

I think Zillow where I am is low. It severely underestimates what things are worth including my house but even places that sold and what they "estimate" it. Their estimates are still "low" after it sells for $100-200k more than their estimate. But I mean honestly who imagines paying $1 million for a stupid starter home in crappy shape?

**TBH** · 03-13-2015, 06:48 PM

Zillow is not very accurate for my area. When I sold my first house several years ago, Zillow listed it as being worth $50K the same week I sold it for $150K. That's a huge difference. For my current house, I think it's only about 10% lower than what I think the house is actually worth. But it sure makes me take it with a grain of salt when I use it to look things up in other areas. Generally I think Trulia is more accurate, but of course, Zillow just bought Trulia, so who knows what will happen.

**Bright** · 03-31-2015, 08:15 AM

In our previous home it listed our home for almost $50,000 less than what we sold it for. On our current home it is almost dead on with our tax assessment.

**DaveInPgh** · 08-26-2016, 07:40 AM

Old thread but the subject is on point with what I am pondering at the moment. I know they played with their algorithms a couple years ago that had a huge impact on the Zestimate for my home. It was $183,010 on 6/30/14. I either didn't check it or didn't record it for a few months. I recorded it at $169,309 on 10/15/14 and it dropped to $148,394 on 10/29/14. That drop definitely didn't have anything to do with the real estate market at the time. I assumed they changed how they calculate value, and since that big drop the value has slowly climbed. Today's estimate is $170,386.

The reason for the thread bump is due to a house for sale across the street from me with a much higher Zestimate of $199,380. Below is a comparison of my property to my neighbors.

Details favorable to the neighbor property.
They have 2 1/2 BAs compared to our 2.
They have a 2 car integral garage compared to our 1.
They have a fireplace.

Details favorable to our property.
We have 4 BRs compared to their 3.
Our lot is 17,280 SQ FT compared to their 9,100.
Our living space is 1,666 SQ FT compared to their 1,592.
We have an enclosed patio room.

Neutral/Relatively neutral details
Ours built in 1958 compared to theirs built in 1966
Both Colonials
Both Shingle Roofs
Both Central Heat & AC
Both Brick
Both Full Basements
Both have a C+ Grade per County records
Both listed as Average condition per County records
Both have the SAME EXACT taxable market value per County records
The county even uses 3 out of 4 of the same exact properties in their comparables.

The neighbor is the original owner that I believe just moved into assisted living. So the house has not transferred more recently than mine, which otherwise might explain a higher estimate.

Although I have never viewed Zillow as being reliable for home values, what I am completely baffled by is how a property across the street from me can be valued almost $30k higher!

**97guns** · 08-26-2016, 07:58 AM

its estimates are a bit low in my market, it shows around $215 but i see comps going for $250 and up

How accurate is Zillow?