Home Selling in 19087>Question Details

jim_somers, Home Seller in Radnor, PA

Why such a huge price discrepancy between Zillow's estimate and Trulia's?

Asked by jim_somers, Radnor, PA Thu May 29, 2014

My home is in Radnor, Radnor Township, Northside. The difference is $275,000 on a house in the $500,000 to $1 Million range. That is huge. One keeps lowering it while the other keep raising it. It seems that the one lowering it in 15K chunks in a stable to improving and seasonally strong time of the year is just strange as if their algorithm has gone haywire. Your thoughts? Whose right or reasonably right?

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Answers

4
Neither..........

Why such a huge discrepancy you ask?

Well, that's because both sites use computers and mathematical equations along with public records to generate their estimates......computers can be right, and they can be wrong. Each site's mathematical algorithms may vary and are based on their own site's use of the stats.

Nothing can beat an actual live person viewing the property and selecting accurate comps that will help reflect the real market value of the home....
2 votes Thank Flag Link Thu May 29, 2014
Very informative post, thankyou and take care
Flag Thu May 29, 2014
If you want a closer value on a property you should contact a local Realtor. They can provide you with a comparative market analysis.
0 votes Thank Flag Link Thu May 29, 2014
Context is very important in any market analysis, and at this point, the systems in place are not able to contextualize the data. Talking to a good broker or realtor is always going to be one of the best ways to arrive at a value. Good luck !
Web Reference: http://sellquickAZ.com
0 votes Thank Flag Link Thu May 29, 2014
The Zillow & Trulia estimates can fluctuate quite a bit and as mentioned above they are algorithms that the websites use from various sources. These are by no means a real life value of the home they are more on a guestimate than an estimate. If you are thinking of selling your home, have a Realtor do a CMA or hire an appraiser if you are just curious. I have seen some areas where the Zillow & Trulia estimates can be very accurate, and other that can be way too high or low.

Hope this help ease your concern.
0 votes Thank Flag Link Thu May 29, 2014
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