How Accurate is Zillow?
Decatur 30032 Year To Date 9/30/2020 Real Estate Report Update
The highest priced home sold in 30032 so far this year was for $550,000, yet Zillow estimates it worth at $253,162. The lowest price in 2020 in Decatur’s 30032 was $45,992, yet Zillow values this home at $217,166.
“According to Zillow, most Zestimates are “within 10 percent of the selling price of the home. But Zestimates are only as accurate as the data behind them, so if the number of bedrooms or bathrooms in a home, its square footage, or its lot size are inaccurate on Zillow, the Zestimate will be off.”
Zillow is a good place to start to get an idea of what your home’s value is worth, but it’s best to call a Realtor to get a more accurate valuation. A Realtor will provide you with a Comparable Market Analysis, most commonly called a CMA. The Analysis will compare your home to those recently sold within, generally, a 1 mile radius, with the similar number of bedrooms, baths, square footage and amenities.
Increase in you Dekalb County Property Assessment?
Most likely you received an increase in your property taxes based this based on an increase in your home’s assessment. That is a totally different subject, but is still relevant in that the value of homes sold in 30032 compared year over year increased 11.8% according to Georgia Multiple Listing Service. The Median price of a home sold in the 9 months of 2020 was $228,000 compared to $204,000 in 2019. The Average Price went up 8.6% to $235,900 from $217,266.
The total number of properties sold increased 4.2% but inventory continues to be a problem. The number of listings went down to 776 from 1,059, a nearly 27% decrease.
The number of days a home is on the market is still good at 41 days, though, anecdotally, newly renovated homes tend not to stay on the market very long and can receive multiple offers. For example a new construction home built by HausZwei Homes had a contract before it went on the market. A similar new construction home built by them was under contract in two weeks.
With interest low, homes are still somehow selling quite fast even through these times.
If you have questions on the value of your home please feel contact to contact:
Kevin Polite, Solid Source Realty, Inc. 678-435-9991 or Contact us for more information and availability
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