Redfin and Zillow estimates any good?

Amazon
pws

Go to company page Amazon

pws
Sep 22, 2021 11 Comments

I looked up my house and noticed a $150k difference between the Redfin and Zillow estimates. One says my place is 1.8m the other 1.65, big difference. They used to be pretty close to one another.

Anyway made me wonder how much these estimates matter? Do they influence listing price? Buyer expectation?

53 PARTICIPANTS SELECT ONLY ONE ANSWER
VOTE VIEW RESULT
11

comments

Want to comment? LOG IN or SIGN UP
  1. TOP
  2. RECENT
  3. OLD
 TOP 11 Comments
  • Bloomberg / Eng
    WPslayer

    Go to company page Bloomberg Eng

    PRE
    Fidessa
     WPslayer
    I mean you can take your Zillow score and plug into Mint and jerkoff to your net worth. It’s good for that. As for an actual price you’d pay for a house I find that Zillow exaggerates prices. Your better off finding recent sales with similar bathrooms/bedrooms and square footage with in an area but even the. Some sun neighborhoods and streets are more desirable than others.

    But if you are looking at purchasing g you have to be looking at recent sales.
    Sep 22, 2021 0
  • PayPal
    checkedOut

    Go to company page PayPal

    checkedOut
    Realtor is a third option, maybe consider averaging?

    I think they're all pretty off tbh, but Zillow is the worst offender.

    Best thing to do is see what's selling around you most recently
    Sep 22, 2021 0
  • IKEA
    (-♾️,♾️)

    Go to company page IKEA

    (-♾️,♾️)
    Check out Zillow off market model. It is a good guide for house price based on houses sold recently around the listing. Redfin one is crap. It anchors its base price around the list price and does some +/-. If a seller puts 2M price tag for 1M house, redfin will put estimated price likes 1.9 - 2.1M.
    Sep 22, 2021 0
  • Amazon
    pws

    Go to company page Amazon

    pws
    OP
    From the poll it looks like about a quarter of buyers take that number seriously. That's not nothing.

    My wife is one of them. When we bought our home it was upsetting to her that we offered just 25k over the Zillow number, even though our offer was still below seller's list. Was not in the current market, more balanced then. But she was in agony that we must be over paying and didn't stop complaining about over paying for the house until a year later when prices went up and the Zillow number went well over what we paid.

    I didn't care about the Zillow number but since I need to have a happy wife it still affected me and we walked away from a different house over the same thing.
    Sep 22, 2021 1
  • Zillow and Redfin estimates are heavily influenced by listing price, so your overpriced option in the poll probably doesn't make much sense.
    Sep 23, 2021 0