If you’ve checked your home’s value on Zillow, you’ve probably been surprised by what you saw. Whether the number was higher or lower than expected, you might have wondered how accurate it really is. The truth is, Zillow’s Zestimate isn’t always the most reliable indicator of your home’s true worth. Here’s why—and how you can get a more accurate picture of your home’s value.

Does Zillow account for your home’s unique qualities? No, it won’t. Zillow’s estimate is based on data from public records and past sales, but it can’t see inside your home. It doesn’t know how well you’ve maintained your property or how your personal touches have made it a warm and inviting space. These small details are a big deal when it comes to your home’s value. A local real estate agent who takes the time to walk through your home can understand these nuances and provide a more accurate assessment.

Are off-market sales accounted for? In many markets, including Charleston, a significant number of homes are sold off-market, meaning they never show up in Zillow’s data and are therefore overlooked. Zillow’s algorithms simply can’t account for these sales, but local agents can. By having access to this off-market data, we’re able to offer a more complete picture of the local real estate landscape and better assess how it impacts your home’s value.

Does market timing make a big difference? In today’s fast-paced real estate market, values can shift quickly. Zillow’s data can sometimes be a step behind, especially when market conditions change rapidly. Real estate agents, on the other hand, stay up-to-date on current market trends and recent sales, helping to ensure that the home value you’re seeing reflects what’s actually happening in the market.

What’s the best way to determine your home’s value? If you’ve noticed a big difference between your Zestimate and what you think your home is worth, it’s worth taking a closer look. A real estate agent who knows the local market can provide a more personalized and accurate assessment. By visiting your home, understanding its unique features, and keeping up with the latest market trends, we can give you a much clearer picture of its true value.

The most reliable way to understand your home’s worth is to talk with an expert who understands the local market and can take the time to assess all the factors that affect value. If you’re curious about what your home might be worth today, you can call or text me at 843-701-9186 or email me at MikRamey@Gmail.com. I’ll be happy to provide you with a personalized home evaluation so you can get the clarity you need to make informed decisions.

Why Zillow’s Zestimate Can Be Misleading?

• Interior Condition: Zillow cannot see inside your home, so it misses the impact of maintenance, updates, or a poor layout.
• Off-Market Sales: A significant number of local Charleston sales are not listed on public MLS feeds, so Zillow’s data is incomplete.
• Market Timing: Zestimate algorithms can lag behind fast-changing local market conditions that real-time agents are aware of.

The Best Approach for an Accurate Valuation

• Use the Zestimate as a free, quick starting point for curiosity.
• Research recent sales of comparable homes in your specific neighborhood.
• Request a professional Comparative Market Analysis (CMA) from a local expert.
• Schedule an in-person walkthrough to account for all unique features and conditions.

Quick Facts

1. Zillow’s national median error rate is typically between 2-5% for on-market homes, but far higher for off-market estimates.
2. Overpricing based on an inaccurate estimate is a leading cause of a home sitting on the market.
3. A professional CMA is free and provides a data-driven, hyper-local price recommendation.