it’s that time again, time to have another look at Zillow’s zestimates vs. real world prices – the last time I looked was last August. (it’s been awhile, (and things are slow) so let’s check in with Zillow) And in that time Zillow may have gotten better at this zestimate thing. So let’s see.
I used the following simple criteria in selecting the homes to use for comparison;
-single family homes in the North area (the foothills) of Tucson, sold for $400,000 or more in the last 30 days. Period, no further criteria, filtering or preferences.
And just to be sure there was no cheating or preferential treatment, rest assured,
I was blindfolded during the entire process. 33 homes met the criteria and starting with home # 1 I selected every other home for inclusion in the comparison – so a total of 17 homes. That seemed like plenty.
And to be crystal clear, here is Zillow’s explanation of their Zestimate and Value Range; A Zestimate home valuation is Zillow's estimated market value. It is not an appraisal. Use it as a starting point to determine a home's value. Learn more
The Value Range is the high and low estimate market value for which Zillow values a home. The more information, the smaller the range, and the more accurate the Zestimate. See data coverage and accuracy table
Now, ta-da, the results;
|Address||SOLD for||Zestimate||Value Range|
|4350 N Camino Ferreo Tucson, AZ 85750||$400,000||$340,000||$279K – $374K|
|5921 N Placita Tecolote Tucson, AZ 85718||$410,000||$414,000||$348K – $472K|
|7638 E CMO AMISTOSO Tucson, AZ 85750||$420,000||$394,500||$335K – $454K|
|5560 N Via Velazquez Tucson, AZ 85750||$425,000||$459,000||$386K – $519K|
|5288 N Sunset Shadows Place Tucson, AZ 85750||$445,000||$381,000||$312K – $423K|
|5771 N Camino De La Sombra Tucson, AZ 85718||$510,000||$504,000||$408K – $580K|
|4054 N Boulder Canyon Place Tucson, AZ 85750||$535,000||$440,500||$379K – $515K|
|6498 E Paseo Otono Tucson, AZ 85750||$540,000||$502,500||$412K – $568K|
|6269 N Paseo Valdear Tucson, AZ 85750||$555,000||$597,500||$490K – $687K|
|5151 E Mission Hill Drive Tucson, AZ 85718||$600,000||None||None|
|6334 N Pinnacle Ridge Drive Tucson, AZ 85718||$715,000||None||None|
|6079 E Red Cardinal Tucson, AZ 85750||$715,000||$655,000||$531K – $727K|
|4625 N Rocky Crest Place Tucson, AZ 85750||$872,500||$668,500||$541K – $749K|
|7827 N Ancient Indian Drive Tucson, AZ 85718||$1,200,000||None||None|
|5920 N Via Serena |
Tucson, AZ 85750
|$950,000||$884,000||$716K – $972K|
|3271 E CAMINO JUAN PAISANO Tucson, AZ 85718||$1,640,000||$1,146,500||$871K – $1.26M|
|3252 E Camino Boscaje Escondido Tucson, AZ 85718||$1,750,000||$1,106,500||$797K – $1.31M|
Like it or not it’s still hit or miss with zestimates - some nice hits, but some very big misses too. And in the past I only looked at homes in the $750 and up range. And that may not have been completely fair, because it’s obvious that Zillow is much more on their game at the lower end where, generally, the homes are more alike, even cookie cutter, and getting it right is about as tricky as hitting the broad side of a barn, than they are at the higher end where everything doesn’t stack up quite so neatly.
to find your Foothills home