These days both Zillow and Redfin are the top two websites to get a home estimate. But are they accurate?
Zillow uses “Zestimates” to get an idea of monthly costs for a property. Unfortunately, much of the data used to create the values are often dated. Zestimates have a 1.9 percent margin for error for homes on the market and 7.5 percent for the homes that aren’t.
Redfin has slightly more accurate estimating system: 1.71 percent error rate for homes on the market; 5.76 percent for homes that aren’t.
Both Zillow and Redfin are good starting points. However, it is recommended that homebuyers use a professional real estate agent and appraiser.