What's a "Zestimate" and is it Accurate?
If you're currently using Zillow or plan to use this tool to assist your home search, it's important to understand the "Zestimate" feature of the app. This feature give an approximate sales price of a home. While this may be helpful to get a general idea of the ballpark you're in, it's certainly not a number to bank on. The truth is 77% of homes in Dallas county had a Zestimate that was within 20% (plus or minus) of the sales price. THIS IS BAD! Two important takeaways:
1. Why is the Zestimate so inaccurate?
Texas is a non-disclosure state which means the only people with access to the most accurate home sales price numbers are licensed realtors.
2. What should I use my Zestimate for?
Use it as a basis for your home's price estimate and work with a real estate professional. It can give you a general idea, but it cannot replace what a licensed realtor can do for you and the accurate information they provide.
If you have more questions about Zillow or any other real estate app, feel free to reach out. We would love to share our knowledge and help you sort through the information to make sure you have the most accurate numbers available!