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A Zestimate is Zillow’s estimated market value for a home, computed using a proprietary formula including public and user-submitted data, such as details about a home (bedrooms, bathrooms, home age, etc.), location, property tax assessment information and sales histories of the subject home as well as other homes that have recently sold in the area.
While the Zestimate is the estimated market value for an individual home, the Estimated Sale Range describes the range in which a sale price is predicted to fall, including low and high estimated values. For example, a Zestimate may be $260,503, while the Estimated Sale Range is $226,638 to $307,394.
A Zestimate valuation is a proprietary Zillow tool for getting a free, instant estimate of a home’s market value. The Zestimate is calculated through a Zillow algorithm that crunches data from public property records, tax records, recent home sales in the area, and user-submitted information to come up with an approximate market value for a home.
A Rent Zestimate (pronounced ZEST-ti-met, rhymes with estimate) is Zillow’s estimated monthly rent price, computed using a proprietary formula. It is a starting point in determining the monthly rental price for a specific property. The Rent Zestimate is pulled from public property data and similar local properties listed for rent; there may ...
The Rent Range shows high and low rent estimates for an apartment or house — and the published Rent Zestimate will fall somewhere between the two, at a value we determine is most likely to represent a fair market rent. Example: If the Rent Range is $2,000-$3,200, the published Rent Zestimate might be approximately $2,600.
Stan Humphries • Jun 27 2019. The algorithm that powers Zillow’s signature home valuation tool — the Zestimate — is getting an upgrade. Now more accurate than ever, the new Zestimate uses computer vision to analyze photos of a home to understand not just its facts and figures, but its quality and curb appeal. The Zestimate also now ...
The Rent Zestimate ® tool helps provide a rent estimate by address. To come up with the Zillow Rent Zestimate ®, we look at: The home’s physical attributes and amenities (like square footage and number of bedrooms and bathrooms) Comparable rental properties and the market rental rates in the area. Any owner-updated home facts, plus other ...
Building the Neural Zestimate. Reid Johnson • Feb 23 2023. Zillow’s signature home valuation tool — the Zestimate — is a powerful starting point in determining a home’s value. Since its launch in February 2006, the Zestimate has evolved from providing 40 million homes with an estimated home value updated monthly to covering more than ...
For example, consider a home with three submodel estimates: $40,000, $50,000 and $100,000. The modeling system may determine that the $50,000 estimate or some blend of the $40,000 and $50,000 estimates are the most accurate value for the Zestimate. However, if the home is then listed for sale at $95,000, the system will look for a submodel that ...
Imputing Data for the Zestimate. Angela Burden • Nov 02 2023. In this article we show how we improved the performance of the Zestimate with a de-noising, autoencoder imputation model. At Zillow we are sitting on a treasure trove of housing data. Our data is collected from multiple sources spanning all regions of the USA.