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The average of the 5 estimates is $674.8k with a $165k difference between top and bottom.
If I toss out the top and bottom and average the middle 3, the number is $687k. I may go with that as my "official" estimate for February 2021.
Quote:
Originally Posted by fishbrains
For me,
Zillow $481,000
Redfin $372,000
Homes $612,000
based upon the sales in the neighborhood, my guess is that Zillow is probably the closest, but might be a bit low.
My spread was $240k from low to high. Redfin might be undervaluing my home by 40%, or Homes overvaluing by 65%. I could purchase a house with just the difference in opinions!
What's most fun about this? Xome says we paid $40,300 in 2013. Redfin says we paid $897,000 for it in 2013. Neither are correct.
Homes.com $440,900
And RealtyTrac has $631,800. Given that 58% increase, we'd grab a few personal items, a suitcase full of clothes, the dog, and run straight for the closing office.
Both sites have the price history even more erroneous than the others.
I checked Zillow on my rental property, it's extremely accurate....Off by about 1/2-1% of what I could list and close at.
I looked at Zillow for my primary residence, it's priced about 5-10% more than I think I could realistically get. If I could really sell for the zillow price, that would be great, but where the heck would I move to?? No inventory and crazy prices, plus I don't want to be house poor from upgrading. This residence has probably gone up 70-90k in value in 18 months. It's not my dream home (but is in awesome location), but it fits our needs in terms of square footage.
Redfin sends me pricing on both properties and it's far too low.
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