Both Buyers and Sellers look at third-party sites such as Trulia and Zillow to research the value of their home. Below is how these sites get their data and calculate the estimated value.
What are Trulia Estimates?
A Trulia Estimate is just that: an estimate of a home's worth. Our estimates use a ton of info, including recent sales of similar homes and home facts like number of bedrooms and bathrooms, square footage, and more to provide insight into what a home is worth. You can help us improve our accuracy by telling us what you think of your home’s Estimate, and by claiming your home and updating its facts.
Don't see a Trulia Estimate for your home? Don't fret - it doesn't mean it’s not worth anything! Trulia Estimates are only available in locations where we believe our estimate is within a reasonable range of accuracy. Currently, more than 50 million homes across the US have Trulia Estimates, a number that will continue to expand.
If you're looking for a precise value for your home, or if you're thinking of selling your home, we recommend you talk to a real estate professional. After all, our algorithms are smart, but we can't know everything about your home’s features and location. Connect with real estate experts in your area.
Trulia Estimates Coverage and Accuracy
Trulia Estimates are available for single-family homes, condos and townhomes in many areas across the US. You can also review the accuracy of Trulia Estimates within each of these counties. We measure accuracy by comparing (1) actual sales prices for recently sold homes over a 3 month period with (2) those homes’ Estimates at the start of that 3-month period. For each county, we report the median error of these differences and the percentage of sales where Trulia Estimates were within 5%, 10% and 20% of the final sale prices.
Frequently Asked Questions
Where does the data come from and how are Trulia Estimates calculated?
Trulia Estimates are based on the physical characteristics of homes like bedrooms, square footage and other features as well as recent sales information for homes in that area. This data is compiled from public records and other sources for counties across the US. Our estimates also incorporate updates from homeowners who claim their homes and enhance the profiles for those homes on Trulia.
Why are Trulia Estimates more accurate in some areas than others?
The amount of data available from public records and other sources varies by county. Accuracy tends to degrade in areas where we have limited data about recent sales of similar homes or basic information about the features of the homes in those areas.
Why are Trulia Estimates not available in all locations?
There are many areas across the country where home facts and recent sales data are limited or not available at all. For example, there are certain “non-disclosure” states, like Texas, that do not disclose sale prices for homes in public records.
The home data we have compiled to generate a Zestimate home valuation varies by location. Some counties provide all the data we could hope for, but others are lacking such key things as the number of bedrooms and bathrooms, or, in some cases, the square footage of the home. The more data we have, the more accurate the Zestimate. And, we've made it easier for our users to help us improve accuracy by incorporating edited home facts into our Zestimate calculations. In some areas, we might not be able to produce a Zestimate at all, but we do have some basic information on the homes. The tables below show you where we have Zestimates and other home information.
To measure the accuracy of the Zestimates, we've gone back in time and compared the historic Zestimates with the actual transaction prices of homes that sold. The tables below also provide various measures of that accuracy.
What's a Zestimate?
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.
Last updated: August 28, 2013
* Click on a state to see detailed county data (accuracy based only on counties for which we have data)
Note: Zestimate accuracy is computed by comparing the final sale price to the Zestimate on or before the sale date. The data herein is computed for the three-month period ending June 30th, 2013.
- Zestimate Accuracy/Star Rating:
- This rating is tied to the Median Error in an area.
The ratings are as follows:
- = Best Zestimate
- = Good Zestimate
- = Fair Zestimate
- = Taz Assessor's Value, or unable to compute Zestimate accuracy
- 0 stars = No valuation
- Homes on Zillow:
- This indicates the percentage of homes for which we have data (e.g., number of bedrooms or bathrooms) in a particular locale. These are the homes you can find via maps or search on Zillow.com.
- Homes With Zestimates:
- We can only calculate Zestimates for homes where we have certain data, including transactions. This column indicates the percentage of homes in an area with Zestimates.
- Within 5% of Sale Price:
- This is the percentage of transactions in a location for which the Zestimate was within 5% of the transaction price. For example, in the Portland area, 33.5% of the time the Zestimate was within 5% of the selling price.
- Within 10% of Sale Price:
- This is the percentage of transactions in a location for which the Zestimate was within 10% of the transaction price.
- Within 20% of Sale Price:
- This is the percentage of transactions in a location for which the Zestimate was within 20% of the transaction price.
- Median Error:
- Half of the Zestimates in an area were closer than the error percentage and half were farther off. For example, in Seattle, Zestimates for half of the homes are within 8.6% of the selling price, and half are off by more than 8.6%.
Remember, for a true market value of your home, contact a local REALTOR® who knows the current state of the local market and can use their knowledge to determine the best value for your home. Contact Updike|Pugh today and we will not only determine the best value of your home but also provide useful tips and key items to look at when listing your home.