How Accurate Is Zillow for an Affton, MO House?

How accurate is Zillow on one specific Affton house? Close enough to start a conversation, not close enough to price a sale on. The Zestimate is a model reading public records and recent sales, and Zillow publishes its own error rates, which run noticeably wider on off-market homes than on listed ones. The gap comes from what the model cannot see. It does not know the kitchen was redone in 2019, that the stone basement takes water every spring, or that the roof is in year twenty-two. On older Affton housing stock, where two homes on the same block can differ by thirty thousand dollars in condition alone, that blind spot is the whole ballgame. Use the figure as a range and then check it: pull three recent sales within half a mile, adjust for square footage and condition, and get someone local to walk the house. Zillow Zestimate accuracy is a starting point, not an appraisal. If you want a real number on your house without listing it, we buy houses in Affton and how we buy houses explains exactly how ours gets made. There is also a piece on assessed versus market value if the county figure is the one confusing you. No obligation attached to any of it, and our Google rating sits at 4.9 across 368 reviews if you want to see who you would be dealing with.

In today’s internet savvy world, many look to industry leader Zillow for information. But the question is, “Should I trust Zillow to determine my house value in Affton, MO?” As local homebuyers in Missouri, our answer is no. Don’t trust Zillow for valuing your home.  Here’s why.

Should I Trust Zillow to Determine My House Value in Affton, MO

Zillow’s Margin For Error In Affton

Zillow has been reported to average anywhere from 18 to 20 percent higher or lower in home estimates. There are even reports of home values on Zillow climbing in declining market areas.

Let’s think about this for a second. For a $200,000 home, a 20 percent deviation is $40,000. For higher-priced markets like Los Angeles or Miami, a $1 million home could see unrealistic estimations varying from $180,000 to $200,000 or more. That’s a huge difference in pricing.

Zillow estimates could discourage potential buyers who might think a home is well out of their price range while giving sellers an unrealistic idea of a selling price point. In the end, this is the starting point of many disagreements homeowners are having with selling agents regarding properly pricing a home. Simply put: homeowners see the price on Zillow and think that is the starting point for their home.

How Does Zillow Create Estimates In Affton, MO

Zillow calls its proprietary estimating tool a “Zestimate.” Even with all the pricing factors placed into the formula, there is still a high margin of error because Zillow isn’t actually looking at your home.

The proprietary formula looks at the market pricing in the area. It will factor in the size of the house, the lot, and all features of the home including the number of bedrooms, bathrooms, pools, and highlighted features. However, even Zillow will say this is a starting point for a true valuation of your home and should not be considered an appraisal or true value. The reason is the information Zillow uses is reliant on accessing public records and user input such as realtor sales. However, Zillow cannot discern if your home is the dilapidated eyesore in the community or the completely redone and upgraded home everyone is envious of.

Additionally, Zillow doesn’t discern community pockets. These are very common in larger cities where you can have a higher-end community just blocks from a mid or lower-end one. These “pockets” can skew or be skewed by larger metro data that Zillow factors in that aren't pertinent.

The More Accurate Model In Affton, Missouri

Any professional realtor will tell you that pricing a home to sell requires a full understanding of the home itself, the location, and current market trends in that area. In fact, most realtors look at Zillow pricing with a bit of disdain because it does make pricing and managing realistic client expectations more difficult.

A realtor will take a look at sales in the pertinent area, creating a radius based on your pocket rather than an entire zip code.  He will then compare your home based on size, features, and upgrades to those homes that were recently sold, thus appraised, in the previous 3 to 6 months. This range is contingent on how hot the real estate market is in the area. He will then compare this information to existing homes on the market, looking at how your home compares to what else buyers are seeing on the market. After all, if yours is a well-kept home being sold next to a completely remodeled home, you might not be able to get the same price per square foot at the other.

Sell My House In Affton, MO

Realtors will consider whether it is Missouri home buyers' or sellers' market. If you are ready to sell your house in St. Louis and you want to create a frenzy with a lot of eyes on your property in a seller's market, you can underprice the home and let the bidding begin. This tactic works in many markets including Affton, MO.

Are You Looking For A Fast Way To Sell Your Home In Affton, MO? Give Us A Call At (314) 334-1481 Or Fill Out Our Online Form Today!