InstaHippo

Zestimate Accuracy/Star Rating: This shows how accurate the Zestimate is in a locale. Four stars indicate the best (most accurate) Zestimates, three stars better Zestimates, and two stars good Zestimates.¹

Much has been written about the accuracy, or lack thereof, of the Zillow Zestimate of a home’s value. What one must remember is that a property can sell at the low point or the high point of its Zestimated range.²

The Value Range, which is related to the Zestimate, shows the high and low values of a home (e.g., Zestimate = $260,503; Value Range is $226,638 — $307,394). A bigger range indicates less data or more volatility in the data.³

The real square footage of the property is approximately 1,900 square feet. This has long been one of Zillows major problems that they will have to fix in order to make their Zestimates more accurate.⁴

So while still a fun tool, the Zestimate remains just that ? If you want to know your home?s value, get a Comparative Market Analysis from a real estate agent.⁵

See, that is part of the low zestimate - they were using properties in a completely different subdivision that is truly comparing apples to oranges. There were already 4-5 listings in the same subdivision so why they had to go out of it doesn’t make sense, especially when the prices were so much lower.⁶

Within 10%/Selling Price: This is the percentage of homes in a location for which the Zestimate was within 10% of the transaction price. For example, in the Sacramento area, 73% of the time the Zestimate was within 10% of the selling price.⁷