What is a Zestimate and How Accurate Is It? 

What is a Zestimate and How Accurate Is It? 

Chances are you've heard of Zillow's Zestimate, the online tool that provides an estimate of your home's value. But what exactly is a zestimate and how reliable is it? Let's take a look at what zestimates are, how they're calculated, and how accurate they really are. 

What is a Zestimate? 

A zestimate is an estimate of a home's market value as calculated by Zillow using publicly available information. The factors taken into account when calculating the zestimate include the age of the property, square footage, number of bedrooms and bathrooms, location relative to nearby amenities, lot size, recent sales data from similar homes in the area, and current market trends. 
                                             

To find out your home’s Zestimate value simply enter your address into the search bar on Zillow’s website. The resulting page will show you detailed information about your home including its estimated market value—called the “Zestimate”—as well as recent sales data from nearby properties and other relevant details. 

How Accurate is a Zestimate? 

The accuracy of zestimates can vary greatly depending on the amount of information available for each individual property. Generally speaking however, most experts agree that zestimates are fairly accurate within 20 percent either way. That means if your property has a zestimate of $400K then it could potentially be worth anywhere between $320K and $480K.  Additionally, keep in mind that since zestimates are based on public records they may not take into account any renovations or updates you have done to your property which could also affect its value.  For this reason if you intend to sell your home it’s always best to get an appraisal from a professional real estate agent who can take all these details into consideration when valuing your home for sale.  

In short, while Zillow's Zestimate can provide you with an accurate estimate of your home's worth within 20 percent either way it should not be used as an absolute indicator of what you can expect to receive for your property when selling it in today’s market conditions. To get an exact valuation for sale purposes it’s always best to contact a reputable real estate agent who will take into consideration all factors affecting your property’s worth such as location, updates and renovations made over time etc… Doing so will ensure that you receive the best possible price when selling your property!