How accurate are Zillow's Zestimates in Santa Cruz?

 

 

 

 

 

 

On Zillow's website you can actually look up the data in different states and counties about how accurate their home valuations are.  In Santa Cruz County, Zillow is within 5% of the ultimate sale price 50% of the time.  If you are selling a home for 1 million dollars in Santa Cruz this means that they could be off by $50,000. 

 

75% of the time Zillow is within 10% of the ultimate sale price.  On a million dollar home that is $100,000 that they could be off and this can be high or low.

 

 

In Santa Cruz our real estate is so unique, every home is different.   Let's say you have a home in the Santa Cruz mountains that has a 12 acre parcel but only 1 acre is usable.  There is no way that Zillow can know what your land is like or what kind of sun exposure you have.

 

Ocean views add A LOT of value to a home and the degree of ocean view determines value.  If you have a peak versus a full Bay view the value of your home is going to be very different and Zillow can't sit in your kitchen and look out the window and know what your view is like.   A view can add 1 million dollars to a home value at times.

 

Another thing about Santa Cruz county real estate is that much of our housing stock is older.  Many of the homes have been upgraded and remodeled but many are still original 1970's vintage.  If you have a totally remodeled home with quartz counter tops and top of the line appliances, Zillow won't know that your home is actually worth much more than your neighbor's that has not been touched since the 1980's.