They are within 5% of the actual sales price 15% of the time, within 10% of the actual sales price 27% of the time, and within 20% of the actual sales price 39% of the time. Good to know you still need a competent Realtor to find out what your home is really worth...
Here is a link to the page on Zillow...
http://www.zillow.com/howto/DataCoverageZestimateAccuracy.htm
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