How Accurate are Zillow Zestimates for St. Louis Real Estate


Zillow Zestimates for St Louis Real Estate: How Reliable Are they for St. Louis Home Values?

You’ve  probably heard about Zillow and their popular “Zestimates”.  How reliable and solid are Zillow Zestimates for the St. Louis Real Estate Market?  This is an important question whether you are a buyer or a seller.

What is a Zestimate?

Zillow defines a “Zestimate” as a home valuation  estimated market value, computed using a proprietary formula. They state it’s not an appraisal, simply a starting point. The Zestimate is formulated from available public data such as tax information, etc.  Zillow’s accuracy varies from city to city depending on the availability of data.

How Zillow Ranks Itself


Zillow uses a star rating system. 4 Stars =  Best Zestimate
3 Stars = Good Zestimate  2 Stars = Fair Zestimate
1 Star = Tax Assesor’s Value or unable to compute Zestimate accuracy

 Zillow’s Accuray Rate for the St. Louis Real Estate Market:Video

Click here to see Zillow’s accuracy rates by area (Updated August 2016)

Data coverage and Zestimate accuracy

 If you clicked the link, or watched the video you found out that Zillow’s accuracy rate is only 1 star out of 4.  Basically, not much above the data at the tax assesor’s database.

Honestly, if you had the choice of staying in a 1 Star Hotel or a 4 Star Hotel … which one would you choose?  So in getting ready to make one of the most expensive financial decisions in your life, get 4 Star quality information from Finding Homes for You.  Current market conditions, comparable marketing analysis, property history reports, Local reports and trends by zip code all combined together will paint the picture you need to see.

Call us today at 636-532-4200 and get more information working for you!  Please continue reading the related articles below for insights into the St. Louis Real Estate Market.

 

 

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