Not disagreeing, but zillow and redfin both track their estimate accuracy: https://www.redfin.com/redfin-estimate https://www.zillow.com/z/zestimate/
https://www.nytimes.com/2021/11/02/business/zillow-q3-earnin...
>Zillow, facing big losses, quits flipping houses and will lay off a quarter of its staff.
>The real estate website had been relying on its algorithm that estimates home values to buy and resell homes. That part of its business lost about $420 million in three months.
Zillow is great at estimating home values and related figures.
They're NOT great at estimating those values in the future.
Then once the prices started coming down, the opposite. I am looking at multiple homes right now, with multiple markdowns, and yet all the other homes around them have the same estimated Zillow price as many months ago, which the currently listed for homes obviously did not sell at. This is mid 2022 to now.
I always check both sites when I'm looking at houses (basically every day) and the pattern holds: They can't really agree within 5%.
Technically they could both be correct if the sale price lands neatly between the two estimates, but some of these historical estimate graphs are also swinging more than 5% per month, too. I think there might be some fuzzy math going on somewhere.
