Zillow Hits New Landmark: 75 Percent U.S. Home Coverage
June 16th, 2011
Zillow now provides information on more than three-quarters of all properties in the United States, making the online real estate data provider one of the most comprehensive sources of real estate information available, according to a statement released by the company yesterday[1]. And that coverage is, in many cases, believes the company, better than checking out the local listings because Zillow users can and do regularly submit information on properties that is not reflected in the public record. For example, remodels may not be evident in the public record, but these updates are common on Zillow. Furthermore, the Zestimate median margin of error has decreased dramatically and now is at 8.5 percent nationwide, with a margin of error below 6 percent in “major metropolitan areas.” Stan Humphries, the company’s chief economist, believes that the improved numbers demonstrate Zillow’s “unwavering commitment to give people as much free information about real estate and homes as possible.” He points out that Zillow users have entered data on more than 28 million properties around the country.
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[1] http://nationalmortgageprofessional.com/news25529/zillow-database-now-covers-nearly-75-percent-all-us-homes?
June 16th, 2011 at 7:59 AM
Zillow is a good starting point and is often very close in common tract home areas. Being able to choose your own comps can help you narrow the value.
June 16th, 2011 at 9:51 AM
I have used redfin to get my comp numbers because they get their numbers from the MLS although it is limited. with zillow I can really get good numbers to back up comps I’m getting from redfin
June 16th, 2011 at 10:05 AM
I can only speak for my area where zillow is WAY off on it’s zestimates. Some areas too low, others too high.
June 17th, 2011 at 4:00 PM
Zillow has a neighborhood where the disparity is more than 50% off. Zillow is holding on to something that’s really low on accuracy.