How accurate is Zillow?

Not enough to base a buying or pricing opinion on, I’d say. I just checked a few sales prices from today: 18 Concord sold for $360,000 while Zillow estimated $475,500.13 Shore Acre Drive, gone to contract in 3 days so we can assume it fetched its asking price of $2.495 million, has a Zillow estimate of $1.340. 20 Limrick sold for $1.695, Zillow suggests $1.895.

Another Zillowestimate was close – $3.725 for a deal I had reached,until the buyer backed off, for $3.6. That’s pretty good. But again, if you used these estimates as gospel, you’d be way below, way too high or just right – trouble is, you can’t tell which.

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2 responses to “How accurate is Zillow?

  1. Peg

    I love Zillow (NOT!) One of my clients was telling me how we should carefully price her house at “x” because Zillow said it was even more.

    Finally, I was able to discredit Zillow JUST a little bit when the home I’d just negotiated a sale on was going for LESS THAN HALF of what Zillow said it was “worth.”

    May all my competitors price with Zillow 🙂

  2. Anonymous

    Zillow rely on ‘Home Info’ and tax card reflecting accuracy.
    13 Shore Road must be some fabulous place for it to sell in 3 days. Or does the tax office not know of the black gold in the back yard?
    Which brokerage is it on with?