“Tsuru” over in Seattle Bubble comments, asked me for a comparison of Zillow Zestimates vs. Closed Sale Prices in the current market. To be sure the Zestimate isn’t picking up the recent sale, I’m using the latest 50 or so sales recorded in the mls for King County in the last few days. 42 are single family homes and 8 are condos. I’m only showing the data for the single family homes, but thought you’d like to know the breakdown of the sales for the last few days.
I think I saw David G. at Zillow and someone from Cyberhomes going at it recently, so let’s throw Cyberhomes in the mix too. As usual, I am posting this as the results come in…so I have no idea how it is going to turn out. Let the best “man” win 🙂
Also of particular interest are the number of sales that are Short Sales and Bank Owned or other “stressed” sales, many, and very few of those indicated so in the Public view vs. Agent fields.
Sold Price Zestimate Cyberhomes
$262,000 SS* $275,000 $292,552
$365,000 $301,500 $398,192
$287,000 BO* $311,900 no result
$530,000 CO* $743,000 $695,991
$140,000 BO* $186,957 $196,698
$210,000 SS* $269,500 $274,417
$282,500 $320.000 $281,461
$285,000 $276,000 $276,134
$347,500 $334,000 $347,910
$480,000 $422,500 $483,891
$550,000 ES* $705,500 $688,842
$565,000 NC none none
$652,500 ” N/A” $661,320
$190,000 BO “no result” $234,017
$269,950 SS* $285,400 $282,102
$279,900 $413,000 $272,349
$517,000 BO $682,500 “$0-Foreclosure”
$450,000 $454,500 $518,982
$176,000 BO $312,500 “0-Foreclosure”
$267,999 NC n/a n/a
$740,000 SS* $937,000 $794,218
$325,000 CG $547,000 $567,171
$420,000 $410,000 $402,384
$451,050 CR $637,000 $559,188
$850,000 NC n/a n/a
$835,000 $802,500 $811,305
$915,000 $831,500 $875,266
$850,000 NC n/a n/a
$370,000 $367,000 $428,766
$636,500 $702,000 $676,200
$650,000 SS * $707,500 $662,000
$360,000 $347,500 $376,152
$475,000 BO* $584,157 $585,199
$292,500 NC n/a n/a
$305,000 NC n/a n/a
$309,950 NC n/a n/a
$373,000 $342,000 $352,252
$386,000 NC n/a n/a
$389,950 NC n/a n/a
$400,000 $391,000 $392,337
$577,000 TR $467,500 $405,413
$416,000 $468,500 $484,506
*disclosed in Agent Remarks or owner field, but NOT in public remarks
SS = Short Sale. CO = Corporate Owned, CR = Corporate Relocation, BO = Bank Owned, ES = Estate Sale, NC = New Construction, CG = Completely Gutted, TR = Totally Remodeled
Geographically, most of the short sales, all except one, are South. The first sales are in Federal Way, Auburn, then Burien, Kent, South Seattle, over Mercer Island, Eastside, Bothell, North Seattle on the Green Lake/Greenwood side, then North Seattle up through Shoreline. That is how the mls code numbers run from 100 through 715.