Want to know how accurate those Zillow Zestimates really are? Below are real listings sold in Superior last month compared to their Zillow Zestimates. Scroll down to the bottom of the post for more information on the accuracy of Zillow Zestimates.
May 2015 Superior Zillow Zestimates vs. Sold Prices
Single Family Homes
Click here for a full market report for Superior Single Family Homes in May 2015
Condos and Townhomes
Click here for a full market report for Superior Condos and Townhomes in May 2015
Are Zestimates accurate?
Zillow is the most popular online real estate information site, with over 70 million unique visitors per month. Along with active listings of properties for sale, it also provides information on houses that are not on the market.
According to Zillow CEO Spencer Rascoff, Zillow Zestimates are “a good starting point” but nationwide Zestimates have a “median error rate” of about +/- 8%. On a $500,000 house, a seller is looking at a $40,000 disparity — which can potentially distort the perceived market value of a listing.
So what’s the takeaway? When buying and selling, keep in mind that Zestimates are no more than starting points in pricing discussions with the real authorities on local real estate values — experienced agents and appraisers.
If you’re curious about the current value of your home, I can provide you with a comparative market analysis at no cost or obligation. Call Barry Remington at 720.373.9297 or reach me by email at email@example.com.
Source: LA Times article “Inaccurate Zillow ‘Zestimates’ a source of conflict over home prices”
Superior’s growth continues with Coal Creek Crossing by Remington Homes. The community features luxury, low-maintenance ranch style patio homes from the $500,000s. Although construction has just begun, 50% of the 53 planned homes have already been sold in this high demand market.
Superior’s ideal location, breathtaking views of the mountains, and extensive open space and trails make this new community very desirable. Coal Creek Crossing is within walking distance of the Superior Marketplace.
Remington’s patio homes feature fully maintained landscaping, open floor plans, luxury master bathrooms, designer kitchen options and so much more. For a list of standard features, click here.
Thinking of purchasing a new construction home? Read 4 Compelling Reasons to Hire an Agent for Your New Construction Home Purchase. Have questions? Call Barry Remington at 720.373.9297 or reach him by email at firstname.lastname@example.org.
It will come as no surprise to those who live in Superior that it is a wonderful place to live. In a “Top 10 Places to Live in Colorado” list by movoto.com, Superior topped the list by scoring highest in quality of life, calculated by having the highest average home values and household incomes. Superior affords its residents relatively low sales taxes compared to other Colorado cities. Additionally, the analysis found the town unbeatable in terms of weather and air quality.
The 10 Best Places in Colorado By Movoto Real Estate
The study also took into consideration: unemployment rate, amenities, crime rates, and commute time. For more on the study and the complete list of the top 10 best places to live in Colorado,visit The 10 Best Places in Colorado by Movoto Real Estate
Obviously the housing market is in a good spot for sellers these days! Low inventory coupled with the low interest rates are leading to fairly quick home sales depending on the price range. I know everyone gets excited when they see what Zillow says their home is worth but even Zillow recommends a local market analysis to avoid over-pricing or under-pricing your home.
Buyers are taking advantage of these low rates but they have to act quickly in order to buy anything under 500k. In many cases, a buyers needs to sell their home in order to buy the home they want. There are strategies to work around this issue, so please give me a call if you would like to discuss.
As of today, there are 30 active listings in Superior, and 20 of those are under contract. If you are curious about the current value of your home, I can provide you with a comparative market analysis at no cost or obligation.
Looking back at 2014
Single family home values increased while inventory decreased
Average sales price for single family homes increased 5.55% compared to 2013. The amount of residential units sold decreased 13.2% from 174 units to 151. Average days on market stayed about the same this past year going from 50 days in 2013 to 53 in 2014.
Attached home values increased significantly and so did the amount of closed units
Average sales price for attached homes increased 23.3% compared to 2013. The amount of attached units sold increased 38.8% from 54 units to 75. Average days on market dropped 33.96% going from 53 days in 2013 to 35 in 2014.
Looking ahead in 2015
I expect home values to continue to increase as the inventory continues to be limited. The demand for entry-level to mid-level homes will be high and homes in good condition will sell quickly.
If you are considering selling your home this year, I encourage you to contact me, for a free consultation to discuss your real estate goals and to determine the value and salability of your home.