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How accurate are Zestimates?

Are Zestimates accurate? Or is my Redfin estimate accurate? They're about the same number. I'm thinking of selling and wondering if these numbers are what I can expect.
Asked By Michael | Scottsdale, AZ | 510 views | Selling | 1 year ago
Answer(4)
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Rising Star
26 Answers
Joanne Patience

Iron Valley Real Estate North Florida

(5)

Zestimates and automated valuations are a guide to what a home might be valued. These are computer generated analysis that do not take into account what is actually happening in the community, has there been updates/upgrades to the home, the location, local economic impact, demand, and much much more. Your local Realtor will help you determine a value range to get your home sold.
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Rising Star
12 Answers
Robbie Holycross

West USA

(69)

Zestimates and Redfin estimates are automated valuations based on public data, recent sales, and algorithms. They can give you a general ballpark of your home’s value, but they aren’t always precise because they don’t account for unique features, recent upgrades, or current market conditions. If you’re thinking of selling, the best way to know your home’s true value is to work with a local real estate professional who can provide a detailed comparative market analysis (CMA). This takes into account your home’s condition, neighborhood trends, and the latest sales to give you a more accurate and realistic price expectation.

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Novice
1 Answer

Those are not typically the most accurate. That is why it is so important to partner with an agent for guidance.
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Novice
1 Answer
Jennifer Riley

Smecko Realty

(10)

A zestimate could very well be close to your estimated value. However, home value estimations made by any automated national site is based on data being used across the country and is not necessarily relevant to your local market. I would highly recommend finding a local agent to do a home value report based on the local market where the home is in order to determine a more accurate value estimation. At the end of the day market value is ultimately determined by, what the consumer is willing to pay for the home. This varies drastically from place to place.

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