Zillow provides Zestimate home valuations for over 104 million homes across the United States, leveraging cutting-edge statistical and machine learning models. These models analyze hundreds of data points for each property, delivering a comprehensive and accurate estimate of home values.
The Technology Behind Zestimates
To calculate a Zestimate, Zillow employs a neural network-based model designed to process and integrate vast amounts of data. This model incorporates key information from a variety of trusted sources, including:
County and Tax Assessor Records: Data like property tax history, ownership details, and tax valuations.
Direct Feeds from MLS and Brokerages: Real-time updates on property listings, ensuring Zestimates reflect the latest market activity.
Factors Incorporated in Zestimate Calculations
Zillow’s sophisticated model draws from multiple data streams to provide a comprehensive view of a property’s value:
Home Characteristics: Details such as square footage, location, the number of bedrooms and bathrooms, and property age.
On-Market Data: Insights from active listings, including the listing price, property description, comparable sales in the area, and how long the home has been on the market.
Off-Market Data: Historical data from public records, such as past sales, tax assessments, and other publicly available information.
Market Trends: Seasonal fluctuations in demand, local market dynamics, and broader economic conditions that influence housing prices.