Zillow Zestimate off by only $28,220,637 ?

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Real Estate Agent with Berkshire Hathaway Home Services 00898298

1627 East Valley Road sold on March, 27, 2018 for $35,000,000. Zillow's (Z)estimate of the property's value was off by only $28,220,637? Zillow's Zestimate was $6,220,363?

Any thoughts on Zillow, it's Zestimates, or Zillow's credibility?

 

Santa Barbara Real Estate News For the Real Estate Curious

Some interesting Statistics for southern Santa Barbara from March 1, 2018 to March 31, 2018

Home Sales: 82 Properties Sold during this time. The highest sale was 1627 East Valley Road in Montecito for $35,000,000. The lowest price sale was 100 Paradise Road for $150,000.

The median price for sales for March 2018 was $1,300,000.

Condominium Sales:  The highest sale for Condos was $2,525,000 for 27 Seaview in Montecito. The lowest price sale was 2727 Miradero Drive unit 309 for $520,000. The median price for condominium sales was $785,000.

Posted by

Mark Danforth Lomas

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