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Is Zestimate or Redfin More Accurate in Colorado?

If you’re a Colorado homeowner preparing to sell, one of the first questions on your mind is likely “What is my home actually worth?” In today’s digital age, online home valuation tools like Zestimate from Zillow and Redfin’s estimate have become popular starting points. But which one should you trust more when it comes to accurately pricing your Colorado property? In this blog post, real estate expert Barb Schlinker discusses the Zestimate or Redfin accuracy in Colorado.

Key Takeaways

  • Zestimate has a slightly lower median error rate than Redfin for on-market homes nationwide
  • For off-market homes, Zestimate’s 7.49% error rate is the best national data point available  
  • Both estimates can vary significantly from the true market value determined by a professional appraisal
  • Working with an experienced local realtor is recommended to price your home accurately

Zestimate or Redfin: Where Do Zillow and Redfin Get Their Data?

Both Zestimate and Redfin’s home valuation tools use publicly available data and proprietary algorithms to calculate their estimates. Sources include county/municipal property records, recent sales data in the area, home facts like square footage and number of bedrooms/bathrooms, and user-submitted information.

What is Zestimate’s Error Rate in Colorado?

Zillow publishes the median error rate of their Zestimate for on-market homes at 1.9% nationwide. For off-market homes, the median error rate is 7.49%. That is between $10,000 to $35,000 on a $500,000 dollar home! While Zillow does not provide state-specific error rates, we can assume Colorado’s figures are likely close to these national percentages.

What is Redfin’s Error Rate in Colorado?  

Redfin states its nationwide median error rate for on-market homes is 2.28%. That is over $10,000 to on a $500,000 dollar home! However, it does not publish error rates at the state level, nor does it provide much transparency into its methodology. This makes it difficult to gauge Redfin’s true accuracy for Colorado properties.

How a Realtor Can Get an Accurate Home Valuation

While online estimates from Zillow or Redfin can serve as starting points, they often fail to account for unique details and local market factors that significantly impact a home’s true market value. This is why consulting an experienced realtor is essential when selling your Colorado home.

A skilled realtor like Barb Schlinker will conduct a comprehensive market analysis, taking into account recent comparable sales, neighborhood data, condition and upgrades of your specific property. This human expertise, combined with professional pricing tools, leads to a much more reliable valuation.

Call Real Estate Expert Barb Schlinker To Get Your Home’s Market Value

Barb Schlinker - Is Zestimate or Redfin More Accurate in Colorado?
Barb Schlinker

Don’t leave the value of your greatest asset up to an automated algorithm. Contact Barb Schlinker and her team of real estate professionals today and let her in-depth local market knowledge guide you in pricing your Colorado home accurately from the start.

Barb’s expertise covers all aspects of the selling process, from pricing to effective marketing tactics that will expose your listing to qualified buyers. Her keen negotiation skills will also ensure you maximize your return when offers start coming in.

For a truly reliable home valuation you can trust, call or text Barb Schlinker at 719-301-1802 and position yourself for a successful sale in the Colorado real estate market.

To Discuss Your Home Sale or Purchase, Call or Text Today and Start Packing!

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