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Zillow Zindex for Columbus

by Maureen McCabe on February 13, 2008

I listened to a conference call about 4th Quarter Home Values from Zillow Tuesday. Dr. Stan Humphries (“Zillow’s chief Zestimator” according to Spencer Rascoff at Zillow but the press release refers to Humphries as “Zillow vice president of data and analytics.”)  Humphries ran through a lot of numbers and a lot of slides (that I could not see during the conference call…) slides are on the Zillow site…

Zillow 4th Quarter Report

“Home Values Continued Decline in Fourth Quarter, Leaving Approximately One in Three New Homeowners With Negative Equity”

If you look at the national map…(on the Zillow site) there are colored diamonds to represent the increase and decrease in value for a market (MSA.) The red (mango) color is the highest appreciation in value and the darkest blue is the most depreciation in value.

On the national map, Central Ohio (Columbus) is a yellow diamond meaning the value is even. California and Florida communitues have the most markets with the values that have declined, lots of blue, deep, deep blue.

Zoom in closer and you can see Central Ohio cities, Delaware, Dublin, Gahanna, Galena, Powell, Sunbury, Upper Arlington, Westerville, Worthington…

The diamonds look like confetti to me… they are red (good, value up) to Navy (bad value down) on the map.

Mango the red of this spectrum Home Values are Up 9%+

Powell + 11.6%
Sunbury + 9.7%

Tangerine Home Values are Up 4% to 8%

Galena +4.3%
Delaware +5.5%
Westerville +4.9%

Squash
(or maybe the color of orange juice if it is natural..) Home Values are Up 1% to 3%

Grove City + 2.3%

Yellow Home Values are Unchanged

Upper Arlington +.1
Worthington -.2
Gahanna -.8


Chartreuse Home Values are Down 1% to 2 %

Columbus -1.2%
Dublin – 1.7 %


Green Home Values are Down 5%-6%

New Albany -4.1%

Aqua Home Values are Down 7 to 9%

Turquoise* Home Values are Down 7% to 9%

Reynoldsburg – 7.1%

Blue Home Values are Down 10% to 12%

Bluer Home Values are Down 13% to 16%

Bluer than blud Home Values are Down 16-19%


The Deepest Darkest Navy Blue
or is it Maybe Blue…maybe blue maybe black – Home Values are Down 20% +

The Zillow map shows Ostrander… but does not show Grandview Heights, Hilliard, Lewis Center… I don’t get that..

Not areas that I work… but on the map and possibly of interest to you…Hebron, Heath and Newark are in the green to aqua spectrum…. there is nothing real blue in Central Ohio… in the whole state.

I don’t know if I understood before listening to the conference call that the Zillow looks at ALL home values (not just closed sales… as most stats do.) Duh! Of course it does… that’s what Zillow is all about.

“The Zindex home value indicator is the median Zestimate valuation for a given geographic area on a given day, and includes the value of all homes, not just those that sold in a given period. Exactly half the Zestimates for a region are below this number, and half the Zestimates are above it. It is expressed in dollars and is for a particular geographic region.”

Previously on ColumbusBestBlog.com about Zillow:

Zillow values $8.5 – $9 million home at $1.5 million?

Real Living Loves Zillow…

 

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February 14, 2008 at 02:54 pm

{ 2 comments }

1 Drew Meyers from Zillow February 13, 2008 at 03:59 am

Thanks for writing (and listening in on the conference call) Maureen!

2 Maureen McCabe February 13, 2008 at 11:04 am

Thanks for stopping by Drew. It was interesting.

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