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How accurate are Zillow's Zestimates in Santa Cruz?

HOW ACCURATE ARE ZILLOW'S ZESTIMATES IN SANTA CRUZ?
 
Zillow is the number one home search site and many people rely upon it for information.  The topic of 'Zestimates' comes up often in my business and I wanted to share the real data about how accurate Zillow's Zestimates are in Santa Cruz county.
 
Watch the Video or continue reading below:
 
 
 
 
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.
 
Why is it that Zillow is not very accurate for home valuations in Santa Cruz county? 
 
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.
 
How to find out what your home is really worth?
 
To get a good idea of what your home is worth in today's market it is best to get an opinion from a local Real Estate professional, like me!  I am happy to help you value your home and let you know what it may sell for today.  If you would like a report on your home simply call, text or email me with some details about your home and your address and I will send you a report. 
 
 

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Authored by Jessica Wallace, Santa Cruz Realtor

 
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Jessica Wallace
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831 419 9345
Licensed In: Ca
License #: 01455690
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Comment balloon 1 commentJessica Wallace • July 17 2018 07:08PM

Comments

You make some important points for sellers in Santa Cruz regarding how going by Zillows estimates lots of money can be left on the table. I think your stats would hold up pretty well in most markets throughout the country. Great post Jessica!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 29 days ago

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