Are Zillow Zestimates Accurate in Home Valuation?

UntitledWhen citing a home’s value, I personally have not had a problem with my sellers and buyers believing a Zillow “zestimate” over my Comparable Market Analysis (CMA).  The value generated by a well researched and analyzed Professional CMA is persuasive and clear.

Zillow is very upfront about their limitations.  They generate a range for their estimate rather than a specific sales price and they acknowledge their sampling error of plus or minus 7.5 percent.  So a $500,000 home has a 95 percent probability of having a value between $462,500 and $537,500.  That’s a $75,000 swing.

Zestimates do not factor in the condition or the interior of the property.  They do not account for upgrades, high-end finishes, landscaping or lifestyle values, which leaves a wide margin of error in calculating the true market value of a home.

When I meet with sellers, I review several different CMA’s with them to demonstrate the validity of the properties selected in my analysis.  Since I have been in most, if not all of the homes that are included in my CMA, I can add clarification to the photos and videos and define the unique features of a home that made it worth more or less than their home.

A Zillow estimate is not a substitute for a Professional CMA.  If you are considering selling or buying a home, you will want a real estate professional to analyze the home’s true market value.

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I am an estate specialist in Pinecrest, Coral Gables and Coconut Grove.  If you would like to schedule a buyer, seller or investor consultation or would like a complementary market analysis of your home, kindly give me a call at 305-898-1852 or send me a note a


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