How Accurate is Zillow’s Zestimate?

Zestimate is an automated valuation model (AVM) created by Zillow that provides an estimated value for a property based on various data sources and algorithms. While it can be a helpful tool to get an idea of a property’s value, it’s important to keep in mind that it is not always accurate.

The accuracy of Zestimate can vary depending on a variety of factors, including the availability and accuracy of data, the level of development in the area, the uniqueness of the property, and changes in the market. According to Zillow, the national median error rate for Zestimates is around 2% for on-market homes, meaning half of the Zestimates are within 2% of the actual sale price and half are off by more than 2%.

However, the accuracy can vary widely for individual properties and in certain areas. In some cases, Zestimates can be off by a significant margin. Therefore, it’s always a good idea to use Zestimate as just one data point when estimating a property’s value and to consult with a local real estate agent or appraiser for a more accurate valuation.

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