Exactly how accurate is the data provided by some of these online real estate websites?

Zillow publishes Zestimates on its site – an automated property value estimates.  When asked how accurate are these estimates, Zillow CEO Spencer Rascoff answered that they’re “a good starting point” but that nationwide Zestimates have a “median error rate” of about 8%.

The accuracy or error table is available on Zillow’s website, towards the very bottom of its home page, under Zestimate.  According to the table, Los Angeles has a Median Error of 7%.  Approx 85% of the home Sale Price is within 20% of the Zestimate.

 

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Bottom line, keep things in prospective.  Just because there is an estimate, it does not necessarily mean it has to sell for that price.  Every property is unique.  Let us provide you a comprehensive evaluation on your property!