Is Zillow's Zestimate feature accurate?

A 6 min. read by Jason Gelios REALTOR®

Many home owners and sellers ask me this question about the Zillow Zestimate feature on Zillow.com. In this brief article I share some of the things that Zillow takes into consideration when presenting a home value on their website.
 
Here are 6 things that Zillow uses to calculate a Zestimate.

1. Public data and some comparables of properties
2. Turnover rate information which could be flawed
3. Information from the MLS that could be inaccurate
4. Bad account information that does not get filtered out
5. Last property sale info which may not provide all the details
6. No upgrades that could have increased the home’s value i.e. updated kitchen

 
The bottom line: Zillow’s Zestimate feature is a rough estimate of your home’s value. It should never be construed as a definite value. A homes value is subjective; meaning it is a matter of opinion by the appraiser or value calculator. There is no perfect way to get a home value. The best way to gain you’re homes value is by hiring an appraiser or having a REALTOR® do the homework to come up with a home value for that moment in time.