The latest Zillow 1-Year Forecasted Values are still expecting a fairly strong appreciation rate over the next year – these estimates are the same or higher than last month! I can see a path to how this could happen.
The Spring Selling Season gets frenzied up for 3-4 months where buyers and sellers all jump in at the same time, and then the market goes flat for the rest of the year…..kinda like this year!
NW Carlsbad, 92008:
SE Carlsbad, 92009:
NE Carlsbad, 92010:
SW Carlsbad, 92011:
Carmel Valley, 92130:
Del Mar, 92014:
Encinitas, 92024:
La Jolla:
Rancho Santa Fe, 92067:
They do have website-viewer data that nobody else has, and hopefully they are using it to track the activity and make predictions.
Zillow and Redfin estimates of our home are now more than 500K apart. They are all essentially worthless.
Zillow has my house -8.4% in the past 30 days in 92010. With such low sales volume, accurate appraisals must be very difficult. I wouldn’t put much stock in Zestimates now or until sales volume increases significantly. Redfin has my house valued $130k more than Zillow, so there are large variations in valuation.