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Zillow CEO Spencer Rascoff says that their "Zestimates are "a good starting point” but that nationwide they have a “median error rate of about 8 percent."
Whoa! That can be a lot! And it even varies by more when you look at the local data.
Here is a detailed article on the subject from the Washington Post.
If you are thinking of getting your home on the market, this may be a great time.
Who do you know that needs to sell a home that I can help?
Our Supply Vs. Demand data is pulled from the Multiple Listing Service and covers the following cities: Azusa, Baldwin Park, Chino, Chino Hills, Claremont, Corona, Covina, Diamond Bar, Fontana, Glendora, Hacienda Heights, Industry, La Puente, Valinda, La Verne, Montclair, Ontario, Pomona, Phillips Ranch, Rancho Cucamonga, Rowland Heights, San Dimas, Upland, Walnut, West Covina and Whittier. ***Data now pulled from Carets***
January 2015 Supply and Demand - OC
***Data now pulled from Carets***