Sentences with phrase «zestimate error»

To do this, I used Zillow's own data and simply multiplied the median Zestimate error percentage by the median sale price of homes to create the «typical» Zestimate error in dollars.

You can find the Zestimate error rate for all the metro areas HERE.

In some cities — including Houston, Kansas City, San Antonio and St. Louis — Zillow is unable to produce a Zestimate error rate because of state real estate disclosure laws.

The typical Zillow Zestimate error is $ 14,000, but you don't know if it's $ 14,000 too high or $ 14,000 too low.

-LSB-...] To see a detailed discussion of Zillow Zestimate errors, including two graphs that clearly show you how inaccurate Zestimates are, see my previous post.

Not exact matches

In 2016, the median error rate for Zillow's Zestimate ™ dropped from 8 percent to 4.5 percent.

«Overall, the Zestimate is incredibly accurate — with a median error rate of 4.5 percent — but occasionally human error does occur,» Zillow spokesman Viet Shelton said in a statement.

Zillow officials say the Zestimate's error rate is 5 percent on the more than 110 million U.S. homes it provides valuations upon.

The Zestimate's current margin of error is 4.5 percent nationwide.

For comparison, the median error for Zillow's Zestimate of home values is greater than 8 %.

So I converted the published Zestimate percentage errors into dollar errors for 25 U.S. metro areas and the U.S. as a whole.

I took Zillow's error rates for a sample city, Denver, from the table above and created the graph below so you can visualize the accuracy of Zillow Zestimates.

You can see from the table above that the accuracy varies from city to city but overall the median error rate for all Zillow Zestimates in the U.S. is 6.1 %, according to Zillow.

ADDED: To make this easier for you, I took Zillow's own data and created a Zillow Zestimate Accuracy Chart which includes the Typical Zillow Error in Dollars for 25 U.S. cities.

Zillow publishes the median percentage error of their Zestimates but I think it's a lot easier to think in dollars rather than in percentages.

Zestimates have a median error rate of 4.3 % nationally.

On a $ 500K home that is potentially $ 100,000 error or «Zestimate» inaccuracy.

So, if the median error was 7.6 % and the median price was $ 255,000 then the typical dollar error for Zestimates in that county would be $ 19,380 (0.076 x $ 255,000 = $ 19,380).

The other 90 % of zestimates had an even greater margin of error than that!

I think sellers need to be made more aware that the small percentage of «margin of error» that Z has as a disclaimer, has a potential price difference of tens of thousands of dollars, sometimes hundreds of thousands of dollars of actual sale price compared to the delusional «Zestimate ®» price.