Question:
“I live in North Clairemont and an agent told me my house is worth $575,000, but I saw online that the median in my zip is $667,400. Do you think the agent is lowballing my home value?”
Answer:
I don’t have enough information to answer that. But here’s what I can tell you…
First, North Clairemont’s zip is 92117, which includes Bay Ho and part of Bay Park, which are pricier than “Clairemont proper” and thus skew the median price upwards.
Second, I don’t know your source, but often I see medians based on a small number of home sales and thus are too small a sample to be reliable.
Third, even if the median is accurate, you can’t go by median prices to determine the value of a specific home.
My suggestion is to invite me by to see your home. I’ve literally priced over 10,000 homes, so I should be able to give you a pretty accurate figure.
