I’ve put solar, landscaping, pergola, patio, paint, removed popcorn, finished garage, put in brick planters, mailbox etc. Sellers tend to be more excited about Zillow data and believe the price estimate is more accurate. According to an independent study of on-market homes, the Redfin Estimate is the most accurate among leading automated home-value tools. The Redfin Estimate is the most accurate online home-value estimate for on-market homes, but it doesn’t replace the first-hand knowledge that a homeowner has about their own home when it isn’t on the market. There are a lot of portals that offer home value estimates. I'll start with the easy part of your question, the majority if not all RE agents do NOT use 3rd party websites to calculate a homes value, why? Redfin and a couple others have increased about 25k but none are accurate unless actually appraised. I'm not trying to sell at the moment or anything, just curious if the zillow might be accurate. Update: An updated version of the Redfin Estimate released on October 2st, 2016 is apparently 9.7% more accurate for on-market homes and 7.8% more accurate for off … Minimum commissions apply. Let me show you… This is a home I sold earlier this year. These sites gather data and try to give an estimate of the value of the home based on their own algorithm. Independent Study Finds Redfin Estimate to be Most Accurate Among Top Automated Home-Value Estimates. This screenshot was taken a few minutes after I put it on the MLS. Thoughts on the new Redfin Estimates? I'll start with the easy part of your question, the majority if not all RE agents do NOT use 3rd party websites to calculate a homes value, why? See full terms and conditions. The most accurate online estimate. We provide the most accurate value of a home for sale—more than twice as likely to be within 3% of the home's selling price as other top online home-value estimators. According to the company itself, the median national error rate for listed homes is 1.77%. Because Redfin is a brokerage and has access to direct MLS data, HOA dues are also included in the calculations. For two years, Redfin has claimed that it produces estimates that are superior, based on the results of an independent study. We live five minutes away and Redfin doesn't have an estimate for our current house for some reason. Lastly, the team improved the accuracy after I left by including real-time mortgage rates. You love the convenience of finding out your home's value in seconds, but there's no guarantee the figure you receive is … When I bought my house, all sellers were getting way more than the Redfin estimates for their houses. If you're curious how much your home might be worth, or how much a home you want to buy is worth, you might consider looking online. Better Data, Better Accuracy. †The savings listed are only an estimate and vary by market. ... Not too accurate in my area. According to an independent study of on-market homes, the Redfin Estimate is the most accurate among leading automated home-value tools. Sellers try to add information to the website to pump up their value: remodeling information, features, pictures, etc. The wife will be happy to hear about the Redfin estimate since she's panicking a bit about this transaction. 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