Don’t Rely on Your Zillow Home Value Estimate

Zillow is not Always Accurate for Boulder County Home Values

What follows is a word of caution for sellers. Zillow estimates on the value of your home can mislead you. It’s tempting to look at online valuations for your home, and get really excited…or nervous. However, I caution you to guard your heart when looking at computer-generated estimates.

In essence: in Zillow estimates in Boulder County are more accurate for new homes, and less accurate for homes with unique features, great views, and lots of updates.

My word of caution for buyers using Zillow is at this link.

Your home is not string of data

Zillow vastly improved the way that the average Joe or Jolene have access to housing data. If I’m being completely honest, it’s likely why I went into real estate. Zillow gave me the chance obsess about homes, pricing, and layouts at all hours. I loved it. And honestly: I still love it, but I do so now with caveats.

What Matters Most When Pricing a Home in Northern Colorado

Zillow estimates don’t account for the fact that the Flatirons are framed perfectly from your kitchen window. They don’t know about your extensive gardens.

Zillow estimates can’t really compute that your home is not your neighbor’s home, and your street is not like the street four blocks away. Those fruit trees you planted 15 years ago? Your Zillow estimate didn’t take that into account. And that sparkling new kitchen? Zillow doesn’t know about that, either.

I think you get the picture ; )

Conversely, Zillow also does not know if you have not maintained the home during the 40 years you’ve owned it, or if you have 73 indoor cats… and just one litter box.

While location will always matter most, understand that home values can differ vastly if your home is unique, your property is unique, or if either are unusual for the area. If your home is on an unusually large lot for the neighborhood, has an incredible view, or has desirable updates for today’s buyers it may be worth more than Zillow estimates. If the finishes or major home systems have not been updated in the past 15-20 years, then it may be worth less than Zillow thinks.

Zillow tends to be most accurate for newer homes (all of the lots tend to be of similar size, and all the finishes are newer), and less accurate on older and unique homes.

Contact me if you’re interested in understanding what your home may be worth. I’d be happy to take a look and give you my professional opinion.