Curious about Zillow home values in Colorado Springs, Colorado? If you’re planning on selling your home, you’ll need to know how much the house is worth. That way, you can come up with a competitive yet fair asking price.
Ultimately, the best way to find the value of your home is by working with a realtor– not relying on online tools like Zillow. In this post, our team at Your Home Sold Guaranteed Realty - Barb Has the Buyers Team will discuss the downsides of using Zillow, and why realtors are the best way to understand your home’s true market value.
Why Should You Avoid Zillow Home Values in Colorado Springs?
Zillow’s Zestimate tool is a popular choice for many home sellers because of its convenience and accessibility. However, Zestimates can often be inaccurate and use outdated data to determine its prices.
That’s because Zestimates mostly relies on publicly available and user-submitted data to make its value determinations. Essentially, the Zillow algorithm takes all of the homes located within a certain zip code, bundles them together, and then averages them out given certain parameters. That average is the value the Zestimate gives for a home that meets those parameters.
This means that Zillow isn’t taking into account factors like:
- Home improvements or renovations that you’ve made
- Neighborhood turnover rates (neighborhoods with more sales have more recent data that isn’t always incorporated into the algorithm right away)
- Conditions and amenities of the neighborhood itself
- Influence of off-market homes on property values in the area
Zillow’s own FAQ page states that the “median error rate for on-market homes nationwide is 3.2%” and the error rate for off-market homes is 7.52%. Although these percentages may seem small, they can certainly add up to major losses in the real estate market.
Why Should You Work with a Realtor to Find Your Home’s Market Value?
Zillow home values in Colorado Springs can be a great starting point if you’re early on in the home-selling process. But once you’re ready to take the next steps, it’s essential to work with a realtor to get the most accurate valuation for your home.
An experienced realtor can perform a comparative market analysis (CMA), which takes into account the prices of recently sold and currently listed homes in the area, including off-market homes.
A realtor is also an expert in the local area, which means they know about the housing market trends and price changes the area might be experiencing. They can also incorporate the individual, unique aspects of your home and neighborhood to provide you with a more accurate valuation.
Work With Our Team Today to Sell Your Colorado Springs Home
If you are considering selling your home and want to get an accurate home valuation, contact our realtors at Your Home Sold Guaranteed Realty - Barb Has the Buyers Team. Our team is local to the Colorado Springs area. That means we have an in-depth understanding of the area and can use specific factors that Zillow doesn’t have access to with their algorithm.
After we evaluate your home, we’ll determine a pricing strategy to help you get top dollar for your home.