Is Zillow Wrong More Often Than Right?

Southern California Mortgage and Finance

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Today, we want to elaborate on an unfortunate fact: Zillow is wrong more often than they're right.

When you're thinking about buying a house in San Diego or anywhere in Southern California, you're likely to start the process online. Many people use Zillow's Zestimate feature to determine whether a home is priced correctly, but it's not the most reliable tool.

In San Diego, Zestimates are wrong 55% of the time! When looking closely at Zillow's numbers, we found Zestimates are only within 5% of a home's true value 42.8% of the time! Additionally, Zestimates in San Diego are off by 20% in value nearly 20% of the time. Would you consider that to be a good estimate?

If you have certain selling goals you want to accomplish, or if you're trying to determine how much you should offer on a home, you are likely using the wrong numbers if you're basing your decisions on a Zillow Zestimate. The best way to accomplish your buying, selling, or investing goals is to work with a real estate professional who knows the market inside and out.

If you have questions about this topic, or if you would like us to put you in contact with an agent you can trust, give us a call or shoot us an email. We would love to give you a hand!