Your Home Sold Guaranteed Realty - Nancy Kowalik Group

Are Zillow Home Values Accurate in South Jersey?

Are Zillow Home Values Accurate in South Jersey?

When you are looking to sell your home, it is important to know its current real estate market value so that you can price it appropriately in the listing. Even if you remember what price you originally paid for the home, that figure is likely inaccurate, especially if many years have passed. Therefore, you need to find a way to determine the current home worth using accurate information and data.

At Your Home Sold Guaranteed Realty - Nancy Kowalik Group, we know how important it is to have the most up-to-date information concerning the market value of your home. As with every other step of the home selling process, you need to have expert knowledge and guidance in order to be successful with your home sale. That is why we are happy to give you everything you need to know, including the best ways to determine your home’s current worth. We can also answer the question, “are Zillow home values accurate in South Jersey?”.

Why Are Accurate Home Values Important?

Home sellers who decide to list their homes for sale on the MLS listings will need to have a fair, reasonable, and profitable asking price in that listing. For most home buyers, the asking price will be the factor in the listing that makes the first impression. To get the most attention for your home, that impression should certainly be a positive one. 

In order to calculate your listing price, you should use a variety of factors, including a home valuation completed by a professional. This valuation will provide you with an accurate and current estimated value of your home for the real estate market in which you live and can be used to determine what you should list as the asking price. Keep in mind that home buyers will be scouring the market for homes in their price range and those which meet their needs. They will be aware of the prices for other comparable homes in the area and will likely use that information to determine if your asking price is reasonable. This is why a professional home valuation is so critical.

Some home sellers, though, will rely on free online home valuation tools such as the Zillow Zestimate in order to get this number. Although this is a great place to start, Zillow should not be your final step in the valuation process, nor should you rely on its estimate to determine your listing price.

Are Zillow Home Values Accurate in South Jersey?

On the Zillow website, you will find a handy tool that is an innovation of Zillow called the Zestimate. It is a proprietary tool that provides homeowners with a way to estimate the value of their homes. It mostly relies on publicly available and user-submitted data to make its value determinations. Although you could easily use the Zestimate to keep track of the estimated value of your home throughout the years, it is not at the same level as a professional home valuation.

Zillow Zestimates rely on past sales in South Jersey (comparables) to determine the basic value of your home. Unfortunately, it does not take into consideration factors such as home improvements or upgrades that have been made, renovations or additions, neighborhood turnovers (high selling neighborhoods have more recent data to incorporate into the algorithm), or the conditions of the neighborhood itself. Therefore, the Zestimate can be wildly inaccurate. 

In fact, Zillow’s 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%. These numbers can add up to significant losses, so it is always advisable to speak with an experienced and local realtor to determine the value of your home and a reasonable asking price.

How Does Zillow Determine Home Value?

In order to determine your home’s value, 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 such as single-family homes with approximately 2,000 square feet and 3 bedrooms. That average is the value the Zestimate gives for a home that meets those criteria. Zillow home values in South Jersey do not factor in specifics for your individual home which could raise or lower the value.

Benefits for Home Sellers of Expert Home Valuations

When you work with an expert realtor who can give you a professional home valuation, you can rest assured knowing that the value estimate will be accurate. You can use it to determine the most reasonable and profitable asking price for your home, especially if the valuation is based on local knowledge of the current real estate market.

Our team at Your Home Sold Guaranteed Realty - Nancy Kowalik Group can give you this valuation and help you use the information to determine the right asking price for your real estate listing. Using factors about your home that Zillow does not take into account is the way that our team can guarantee our valuations are more accurate than any other online home valuation tool. No matter what the current market looks like, we will make sure you are able to sell your home fast and for top dollar.

Our Realtors Can Get You Accurate Home Values 

Have you and your family decided to sell your home and have been wondering “are Zillow home values accurate in South Jersey”? If so, you have come to the right place. Our team of real estate professionals at Your Home Sold Guaranteed Realty - Nancy Kowalik Group is here to give you the answers you need to any and all questions you may have. We will also ensure that you get the most accurate home valuation so that your real estate listing’s asking price is both reasonable and profitable.

To get more information about home valuations or to start your home selling journey, give us a call at (856) 478-6562 or fill out the form below with the requested information to get a detailed response from one of our realtors. With our team on your side, we guarantee you have the best possible home selling experience by achieving your real estate goals.

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