If you were looking to sell your home, wouldn't you want to accurately price your home to sell? Of course you would, so don't trust the Zillow Zestimate in Dallas, TX if you are looking to sell your home.
Zillow uses public records and other data points to generate the Zillow Zestimate in Dallas. The state of Texas is a non-disclosure state, which means that sale prices are not found in public records. This leads to the Zillow Zestimate being far from accurate in Texas, including Dallas. In short, don't trust the Zillow Zestimate in Dallas, TX.
You don't have to take my word for this. The information is right their on their own website. They were forced to release this information when they were sued a few years back because people thought that this number was set in stone. Oh no, folks, it is not. Here is the information that is listed for the Zillow Zestimate in Dallas, TX as of January 2013:
Zillow Zestimate Dallas TX Accuracy
So what does this information about the Zillow Zestimate in Dallas mean? Let's break it down using real numbers. Let's say that you have a $400,000 home that you are thinking about selling. According to these numbers:
- There is a 22.5% chance (about 1 in 5) that the Zillow Zestimate will be within 5%, or $20,000, of the actual sale price.
- There is a 44.5% chance (less than half) that the Zillow Zestimate will be within 10%, or $40,000, of the actual sale price.
- There is a 72.8% chance (about 3 our of 4) that the Zillow Zestimate will be within 20%, or $80,000, of the actual sale price.
- That means that there is a 27.2% chance (about 1 in 4) that the Zillow Zestimate will be MORE than 20% off.
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