The Zestimate home valuation is Zillow’s estimated market value for a home, computed using a proprietary formula. It is a starting point in determining a home’s value and is not an official appraisal. The Zestimate is calculated from public and user-submitted data. Updating your home facts can help make your Zestimate more accurate.

Zillow

Zestimates are intended as a useful starting point to help you determine an independent and unbiased assessment of what your home might be worth in today’s market. Comparing your home to recently sold properties can also help you understand what your home is worth. Additionally, your real estate agent or appraiser will physically inspect the home and take into account special features, location and market conditions.

Zestimate methods

Zillow publishes Zestimate home valuations for 97.5 million homes across the country, and uses millions of statistical and machine learning models that can examine hundreds of data points for each individual home.

To calculate a Zestimate, Zillow uses a sophisticated and proprietary algorithm that incorporates data from county and tax assessor records and direct feeds from hundreds of multiple listing services and brokerages. The Zestimate also incorporates a home’s facts and features, which homeowners have the ability to update.

The Zestimate accounts for variables like:

  • Home characteristics including square footage, location or the number of bathrooms
  • Unique features like hardwood floors, granite countertops or a landscaped backyard
  • On-market data such as listing price, description, comparable homes in the area and days on the market
  • Off-market data — tax assessments, prior sales and other publicly available records

Currently, we have data for over 110 million U.S. homes and we calculate Zestimates for more than 97.5 million of them.

How accurate is the Zestimate?

The Zestimate’s accuracy depends on location and the availability of data in an area. Some areas have more detailed home information available — such as square footage and number of bedrooms or bathrooms — and other areas do not. The more data available, the more accurate the Zestimate value will be.

Other Ways To Find Out The Value Of Your Home

Compare Your Home To Recently Sold Properties

Start by searching real-estate listing sites, such as Zillow and Redfin, for the handful of recently sold listings that are most like your home. Use listing sites that let you search for “just sold” or “recent sales” and show your search results on a map. Here’s how:

  • Enter your city’s name and use the map to explore sold properties by neighborhood
  • Filter your search results by details like date sold, price and number of bedrooms
  • If the site allows it, use other filters — such as crime statistics, school scores and neighborhood amenities — to get more details for making comparisons
  • Narrow your collection to a manageable number; a half-dozen is a good goal

This article is still in progress, because i am still doing the research kindly leave a comment below if you found it helpful so far

Matambo,

Tags:

No responses yet

    Leave a Reply

    Your email address will not be published. Required fields are marked *