How Accurate is Zestimate in Kansas City?
Many people spend a lot of time on Zillow. But most don’t realize how inaccurate and outdated much of the information on Zillow can be. For buyers, finding houses that are already sold is frustrating. For sellers, seeing wildly inaccurate value estimates, or Zestimates, can be misleading.
How accurate are Zillow’s Zestimates in the Kansas City Metro? Not very. In order to explain why, using Zillow’s own data on how accurate Zestimates are in Kansas City, first we need to visit Denver, CO. Home of the Denver Donkeys (no Chiefs bias, really).
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Zillow has a breakdown of how accurate Zestimates are on their website. According their own data, Denver, CO has a 4-Star Zestimate accuracy, meaning Zestimates in that city are considered the “Best Zestimate” (most accurate). Oddly, only 40.5% of Zestimates are within 5% of the actual sale price of the property. The median home price in Denver is $323,270*. That means almost 60% of Zestimates in Denver are off by as much as $16k or more. That’s in a 4-Star, “Best Zestimate” city.
That’s pretty bad, right?
What about Kansas City? Zillow says Zestimates in Kansas City are rated at 1 Star, meaning: “Unable to Compute”.
Not great, huh?
So, I recommend taking Zestimates about as seriously as your take your fortune cookies and Magic 8-Balls. They’re meant for fun, but please don’t base your important life decisions on them.
When you need to accurately price your home, hire a real estate agent.
* Source: Realtor Property Resource
Questions? Feel free to reach me below.
Justin Rollheiser – REALTOR®
Keller Williams Realty | Diamond Partners, Inc.
13671 S Mur-Len Rd | Olathe, KS 66062
Mobile 913-548-5972
Office 913-322-5878
www.JustinRollheiser.com
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