How accurate are Zillow estimates?

For most major markets, the Zestimate for on-market homes is within 10% of the final sale price more than 95% of the time. The nationwide median error rate for the Zestimate for on-market homes is 1.9%, while the Zestimate for off-market homes has a median error rate of 6.9%.

zillow.com - What is a Zestimate? Zillow's Zestimate Accuracy | Zillow

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This browser is no longer supported. Please switch to a supported browser or download one of our Mobile Apps. What is a Zestimate? The Zestimate® home valuation model is Zillow’s estimate of a home’s market value. A Zestimate incorporates public, MLS and user-submitted data into Zillow’s proprietary formula, also taking into account home facts, location and market trends. It is not an appraisal and can’t be used in place of an appraisal.

How accurate is the Zestimate?

The nationwide median error rate for the Zestimate for on-market homes is 2.4%, while the Zestimate for off-market homes has a median error rate of 7.49%. The Zestimate’s accuracy depends on the availability of data in a home’s area. Some areas have more detailed home information available — such as square footage and number of bedrooms or bathrooms — and others do not. The more data available, the more accurate the Zestimate value will be. These tables break down the accuracy of Zestimates for both active listings and off-market listings.

Active listings accuracy

Last updated: November 8, 2022

Off Market

Last updated: November 8, 2022

Note: The Zestimate’s accuracy is computed by comparing the final sale price to the Zestimate that was published on or just prior to the sale date.

Download an Excel spreadsheet of this data.

How is the Zestimate calculated?

Zillow publishes Zestimate home valuations for 104 million homes across the country, and uses state of the art statistical and machine learning models that can examine hundreds of data points for each individual home. To calculate a Zestimate, Zillow uses a sophisticated neural network-based model that incorporates data from county and tax assessor records and direct feeds from hundreds of multiple listing services and brokerages. The Zestimate also incorporates:

Home characteristics including square footage, location or the number of bathrooms.

On-market data such as listing price, description, comparable homes in the area and days on the market

Off-market data — tax assessments, prior sales and other publicly available records

Market trends, including seasonal changes in demand

Currently, we have data for over 110 million U.S. homes and we publish Zestimates for 104 million of them.

FAQ

What changes are in the latest Zestimate? The latest Zestimate model is our most accurate Zestimate yet. It’s based on a neural network model and uses even more historical data to produce off-market home valuations. This means the Zestimate is more responsive to market trends & seasonality that may affect a home’s market value. We also reduced overall errors and processing time in the Zestimate.

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