Another good example of why you can't just trust the Zestimate

[Andrew Syrios]

In a recent article, I made the case that Zillow's Zestimate appears to be highly reliant on the list price of a property; which makes it far less helpful for valuing unlisted properties. I think this example I recently came upon proves that beyond question. So this property sold for $193,000 in August of 2019 and then relisted in October for $325,000 with what looked like nothing more than paint and carpet. Here's what the Zestimate did:

The Zestimate is a good place to start, but don't ever simply rely on it.