Question 1

What is a Zestimate?

Accepted Answer

A Zestimate is Zillow’s estimated market value for a home, computed using a proprietary formula including public and user-submitted data. Updating your home facts can help make your Zestimate more accurate. A Zestimate is not an official appraisal, but is a starting point in determining a home’s value.

Question 2

How to find the value of your home?

Accepted Answer

Begin with your Zestimate, a useful starting point to help you determine an independent and unbiased assessment of what your home might be worth in today’s market. Try comparing your home to recently sold properties to better understand its current value. Your real estate agent or appraiser will physically inspect the home and take into account special features, location and market conditions.

Question 3

How accurate is the Zestimate?

Accepted Answer

The Zestimate’s accuracy depends on location and the availability of data in an area. The Zestimate’s median error rate for on-market homes nationwide is 1.9%, meaning Zestimates for half of all on-market homes are within 2% of the ultimate sale price, and half are not. For off-market homes, the median error rate is 7.5%. Check your Zestimate or update your home details.

Question 4

How often does home value change?

Accepted Answer

Home values are constantly changing depending on buyer demand and local market factors. Typically, home values increase over time. Home value appreciation in a healthy market has a 3% growth each year. However, local market conditions are a better indicator of projected home value appreciation. Your Zestimate is updated regularly to keep up with fluctuating home values. Review the history of your Zestimate to see local changes.

Question 5

What is the difference between an appraisal, Zestimate and Zillow Offer?

Accepted Answer

An appraisal is provided by a licensed appraiser who analyzes the features of your home, and nearby comparable sales to determine a fair market value. Your Zestimate is free on Zillow, and is an estimated market value based on public and user-submitted data. A Zillow Offer is an official purchase amount based on comparable sales, market trends and an in-house evaluation.

Question 6

How to increase home value?

Accepted Answer

Home values increase when buyer demand increases, but you can claim your home and update your home facts with recent improvements to increase your Zestimate. Updating your home’s exterior, including the roof, siding, doors or deck often increase home values.

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