Q: Is Zillow or Zestimates an accurate way to estimate the value of my home?
A: These sites use a complex formula to estimate the value of each home. However, numerous reports have shown that these calculations are often wrong. Zillow states its accuracy to have a median error rate of 4.3% (Zillow, 2006-2017), but according to
many reports of the Twin Cities area that is only true about half the time. Reports of a difference in Anoka county were as high as 11.8% or roughly $19,705 from the actual property sale price and more often than not, Zestimate’s are overestimating the
property value. (Greenweel Realty, 2015)
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