I Don't Need a Real Estate Professional!3/11/2013
How Accurate Are Zillow Estimates (so called Zestimates)2/23/2011
Zillow uses statistical data (zip code, square footage, bedrooms, baths etc) to make their calculations. Some counties provide all the data that they could hope for, but others are lacking such key things. The more data they have, the more accurate the Zestimate. In some areas, they might not be able to produce a Zestimate at all (like in Middlesex&Mercer counties indicated below). If the home facts are incorrect, affects the value. Also, they've never been to the house, never seen the owner's expertise with colors and landscaping. The number of transactions in a geographic area affects the prevailing market values. The fewer the transactions, the lesser the data and the less accurate the estimate will be. Also, they use public data for house attributes, and some areas report less or no data than others.
Last updated: January 11, 2011
Refer to Zillow.com for the above information.
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