June ’21 Housing Market update: Sale Price vs. Market Value: How Accurate Are Online Home Valuations?

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LAFAYETTE, La. (KLFY) – In a real estate market that continues to shatter records heading into the summer months, buyers are looking to stay within budgets while sellers are trying to maximize their home value. In March 2021 alone, single-family homes saw a nearly 52% year-over-year sales increase in Acadiana, but do those prices accurately reflect true market value? 

As we begin to emerge from this pandemic era, many local buyers and sellers are wondering how to accurately evaluate home values!

Local agent Robbie Breaux says, as useful as online home valuations are, they aren’t able to accurately predict market value. Robbie argues that online tools, like Zestimate and many others, are narrow-scoped computer-based algorithms that don’t take variables like a new roof, interior upgrades or desirable neighborhoods into account. 

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