How Accurate Are Online Real Estate Estimators Such as Zestimate?

As local real estate professionals, my team and I do not rely on any automated online estimates to determine true market value. While automated tools such as Zestimates and Realtor give a quick peek at broad market trends, they rely on generalized computer algorithms that can’t account for unique interior features, recent renovations or specific lot advantages. 

A great example of the difference between a Zestimate and a home valuation is a recent sale in Shirley.  When we put a home at 41 Linden Lane on market in September, the Zestimate was only $570,300.  After carefully comparing similar homes nearby (on market, pending, and sold) we priced it strategically at $650,000.  Our pricing produced multiple offers and we are now in contract at significantly over the asking price.  In this case, the Zestimate was more than $100,000 UNDER what buyers were willing to pay!

A carefully done Comparative Market Analysis is something my team and I offer with no pressure and no obligation.  If you are curious what your home is actually worth in today’s market – give me a call!  This way you have a true understanding of what your home is worth in this market.