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Zestimate and Redfin Estimates Overpricing?

Zestimates historical value shown for this property:

Feb 2023 $989K

Jan 2023 $989K

Dec 2022 $818.7K

Nov $845.1K

Oct 2022 $849.1K

We put an offer in for this house, but the seller believes they will be able to sell the house at full listing price. According to Zestimate, properties in this area had a ~17% increase in price at the start of 2023 compared to end of 2022.

I researched comparables in the area, and can't find anything that sold for near that price in this neighborhood.

How do prices reach peak levels when the market everywhere is cooling off? Has anyone else experienced this? Or am I going to need a reality check?

submitted by /u/BlueQuizzicalClocks
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/11blrr9/zestimate_and_redfin_estimates_overpricing/
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