Sentences with phrase «median zestimate»
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.
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The median Zestimate valuation for a given geographic area on a given day is the Zillow Home Value Index.
The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day.
We feel it is, because with the Zestimate, we have an estimate of the current value of every home in the area and, thus, can estimate what the median sale price of the whole area would be if every home were sold on the same day: It would approximately equal the median Zestimate, or Zillow Home Value Index for that area.
The median Zestimate is much less sensitive to extreme values than the average Zestimate (here, «average» refers to the mean).
The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day.
Not exact matches
The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day.
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.
For comparison, the median error for Zillow's Zestimate of home values is greater than 8 %.
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.
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.
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).