Is Zestimate or Redfin more accurate for Ocala homes? Online tools can be a helpful starting point if you’re early on in the buying or selling process, or are just a homeowner curious about your home’s worth.
In this post, Scott Coldwell and our real estate experts at Your Home Sold Guaranteed Realty - Coldwell Real Estate Services will compare Zillow Zestimates to Redfin estimates, so you can make an informed decision about which tool is best for you.
Key Takeaways:
- In Marion County specifically, where Ocala is located, Redfin has a median error rate of 2.07% for on-market homes and 6.24% for off-market homes.
- In Florida specifically, Zillow estimates have an error rate of 2.39% for on-market homes and 7.54% for off-market homes.
- Overall, Redfin can be considered slightly more accurate than Zillow or other online tools. However, it’s still best used as a starting point for your real estate journey.
How Accurate is Redfin For Ocala Homes?
Nationwide, Redfin has a median error rate of 1.99% for on-market homes and 6.3% for off-market homes. In Marion County specifically, where Ocala is located, there is a median error rate of 2.07% for on-market homes and 6.24% for off-market homes.
In Ocala, where the median home price is $270,000, this means a Redfin estimate for an on-market home could fall between $264,411 to $275,589. For an off-market home, Redfin’s estimate could fall between $253,152 to $286,848
For on-market homes in Marion County:
- 76.27% of estimates are within 5% of the final sales price
- 89.62% of estimates are within 10% of the final sales price
- 96.59% of estimates are within 20% of the final sales price
For off-market homes in Marion County:
- 44.21% of estimates are within 5% of the final sales price
- 64.18% of estimates are within 10% of the final sales price
- 81.48% of estimates are within 20% of the final sales price
How Accurate Are Zillow Estimates for Homes in Florida?
Nationwide, Zillow reports an error rate of 2.4% for estimates of on-market homes and 7.49% for off-market homes.
In Florida specifically, Zillow estimates have an error rate of 2.39% for on-market homes. 79.66% of on-market homes had a sales price within 5% of their Zestimate, 93.58% of homes had a sales price within 10%, and 98.19% of homes had a sales price within 20%.
For off-market homes in Florida, Zillow’s median error rate is 7.54%. 35.58% of homes have a Zestimate that’s within 5% of the final sale price, while 61% come within 10%. 83.53% of homes’ Zestimates are within 20% of the final sale price.
Should You Use Zestimates or Redfin?
Overall, Redfin can be considered slightly more accurate than Zillow or other online tools. However, it’s still recommended to use it if you’re early on in the buying or selling process, or just want a rough idea of what a home is worth.
Like Zillow, Redfin uses an algorithm-based method to come up with its estimates, which has significant limitations. But Redfin’s increased accuracy comes from the fact it uses data from the multiple listing service (MLS) to come up with its valuations for on-market homes.
But even data from the MLS can’t account for the unique features and characteristics of your home that might make it worth more or less than others in the same neighborhood.
Ultimately, only a realtor can capture the complete value of a property based on the most up-to-date market data. Even Redfin itself states that its estimates should not be used in place of an evaluation from a professional realtor.
Scott Coldwell is the Best Ocala Realtor to Find Your Home Value
While tools like Redfin and Zillow can be helpful, they ultimately can’t replace the knowledge, experience, and guidance that a realtor provides. At Your Home Sold Guaranteed Realty - Coldwell Real Estate Services, Scott Coldwell and our team can easily help you find the market value of Ocala homes.
Our track record of success is proven through our data– on average, we sell homes 48% faster and for 2.4% more money than our competitors. Plus, with our buyer and seller guarantees such as our Guaranteed Sale Program and Buyer Protection Plan, you can ensure a risk-free real estate experience.
Contact us today at 352-290-3512, send a message to [javascript protected email address], or use the form on this page to learn more about working with our team. Buying or selling a home doesn’t have to be stressful when you work with the best realtor in Ocala and all of North Central Florida!
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