Have you ever wondered how accurate is the Zillow 'Zestimate' of your house valuation? Two recent listings of mine in the Landmark Mews community located in West End Alexandria demonstrate yet again how useless the Zillow automated estimate of house value is with respect to the actual market value of the house.
In the first example, my 6320 Manchester Way TH listed and sold for $925,000 with 12 days on market. On the list date, the Zillow 'Zestimate' put the TH value at $846,000. Zillow got the actual market value of this TH wrong by $79,000.
The second example is 5205 Cottingham Place, which had a 'Zestimate' of $775,200 on the day the TH listed for $850,000. Four days after listing the house, Zillow raised their estimate of house value to $852,000. A $77K increase. In 4 days.
Zillow is a $6 Billion company that applies substantial money and marketing to promote the 'Zestimate.' The result of that effort is an inaccurate, misleading, and useless number.
No algorithm can take the place of an agent in determining proper market value of a house based upon consideration of house features, upgrades, condition, presentation, location, and the current state of the market.
If you want to understand the actual market value of your house, contact KW United Alexandria-Kingstowne to obtain a "Market Value & Equity Analysis Report." Do not guess at your house value. Have confidence in your house value by working with one of our agents.
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