Did you find all sites altered their price? I understand that Trulia and Zillow are owned by the same company so their prices should be consistent, though Realtor is still separate . I never found out how Zillow does its estimates. Does anyone know? I assumed they were based on average sales in the zip code during the past month, but that may be incorrect. If it is based on an average per square foot for all sales, it could bounce about.
Did you find all sites altered their price? I understand that Trulia and Zillow are owned by the same company so their prices should be consistent, though Realtor is still separate . I never found out how Zillow does its estimates. Does anyone know? I assumed they were based on average sales in the zip code during the past month, but that may be incorrect. If it is based on an average per square foot for all sales, it could bounce about.
Chris, if memory serves they use public records, published sales and a few other metrics. If the MLS for the area provides them with data (many don't and won't ) then they have that as well. Saw an explanation from a zillow employee on a facebook group several months back. Sadly, I don't recall the specifics.