It's time for another check to see how Zillow's "Zestimates" are handling our hot market conditions on the San Francisco Peninsula.
Since Zillow is such a popular site with many of our buyers and sellers, I often take a snapshot of the Zestimate shortly after I take a listing, and then compare it with the actual sales price. The last time I posted some of the results was May, 2012.
Here we are, a year later, and it's time to do it again:
Sale price: $750,000
Sale price: $660,000
Sale price: $510,000
Sale price: $819,949
Sale price: 1,055,000
I have 3 listings coming on the market in the next 2 months, and at present one pending buyer purchase. I'll let you know how closely Zillow Zestimates match those sales prices.
My advice to buyers and sellers remains the same: enjoy the Zillow site, but get your advice about your market from a knowledgable, reputable Realtor who knows the market and the trends in your area.