How Much Is My House Worth: Home Value Estimator (2024)

How Much Is My House Worth: Home Value Estimator (1)

Check Out Your Free Property Report For Local Insights

Get a home value estimate to see how much you could sell for and how fast based on key trends happening in your area.

Unlock all of the important details you need to know, including:

We also make it easy to scope out the competition. Find out how many homes are for sale, check out asking prices, and see how similar homes compare to yours. With up-to-date information about homes in your neighborhood, you can make informed decisions when it’s time to sell.

How Much Is My House Worth: Home Value Estimator (5)

Not ready to sell?

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Understand your home's value to determine how much equity you can leverage for a cash-out refinance.

Have yourhome value estimateready before starting the cash-out refinance process.

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Our Verified Partner Agents are local experts who earn an average of 4.8/5 stars from buyers and sellers just like you.

Learn more about the best way to sell your home.

How Much Is My House Worth: Home Value Estimator (7)

Home Value FAQs

What Does Home Value Mean?

Home value, or

current market value, is the amount of money your house would likely sell for if it went on the market today.

Why Is It Important To Know My Home’s Value?

Knowing what your home is worth can help you decide when to sell and what your asking price should be. It can also help you determine if you should make some repairs or updates first. Since your home is such a major financial asset, it’s important to make informed decisions when you’re getting ready to sell.

How Does The Property Report Calculate My Home’s Value?

Your

home value estimate

is based on sales price data gathered from public records. It is not based on a licensed appraisal of your home. Estimated value can vary depending on location, current market conditions, data availability in a given area, and other factors. Please see

Terms of Use

for complete disclosures.

How Accurate Is The Home Value Estimate In My Property Report?

While the Property Report is a great way to get an idea of what your home might be worth, it is meant as a starting point and does not replace an actual comparable market analysis from your real estate agent or a home appraisal. Obtaining a professional appraisal or requesting a Comparative Market Analysis from a real estate agent is recommended. For further information on your home’s current market value,

connect with a real estate agent.

How Can A Real Estate Agent Help Me Determine My Home’s Estimated Value?

A

Verified Partner Agent from Rocket Homes℠

can provide you with a comparative market analysis (CMA). A CMA consolidates all the data from available comparables and gives you an estimate of what your home value should be.

Should I Get An Appraisal Of My House?

An

appraisal

is typically required for a buyer to qualify for a mortgage. As a seller, there is some value in getting an appraisal because it can give you a firm idea of what your house is worth and provide assurance to a prospective buyer. However, since appraisals typically cost a few hundred dollars, most homeowners only pay for a professional appraisal if it is required for a refinance.

Can My Home’s Value Change Over Time?

Yes,

home valuation can change over time

for a variety of reasons. The hope is that your home will appreciate, meaning it will gain market value. But there is no failsafe way to predict these changes.

What Factors Can Contribute To A Change In Home Value?

Changes in the market itself are a major contributing factor to fluctuation in home value. As demand goes up, prices typically go up, and vice versa. Changes in the economy, job market, interest rates — these are things that influence home value and are well beyond your control. But there are some things you can do to help your home’s chances of appreciation over time, like making smart upgrades and strategic

renovations.

Home Value Resources

See all Guides

Home Appraisal: Everything You Need To KnowReal Estate Market Trends: How The Decade Impacted Home ValuesHow To Know If It’s The “Right” Time to Sell Your Home
See all Guides
How Much Is My House Worth: Home Value Estimator (2024)

FAQs

How do I find the exact value of my home? ›

“) The most accurate option is likely to have the home professionally appraised, which will cost a few hundred dollars. There are many ways to find out your home's value. Online estimation tools (like this one) are a popular option and a good starting point.

Which is the most accurate home value estimator? ›

On its website, Redfin says Redfin Estimate is highly accurate among leading automated home-value tools, with a median error rate of 2.08%. If your geographic area is within its service zone, Redfin generates an estimate and displays a map with photos of other properties that have sold in the area.

How do you calculate the value of a house? ›

Determining the fair market value of a home typically involves analyzing the prices of similar properties, often referred to as “comparables” or “comps”. A comp is a property with similar characteristics to the one being valued, including the size, age, location, and condition of the property.

How do you calculate appraised value of a house? ›

Appraisers estimate a home's value in three main ways:
  1. Comparing it with other properties (market data analysis)
  2. Calculating how much it would cost to rebuild the property from scratch (cost to reproduce)
  3. Calculating how much income it produces (income capitalization)
Sep 14, 2022

How accurate are Zillow estimates? ›

The nationwide median error rate for the Zestimate for on-market homes is 2.4%, while the Zestimate for off-market homes has a median error rate of 7.49%.

Where is the best place to find the value of your home? ›

Here are some of the best home value estimators — called automated valuation models or AVMs — and how they work.
  • Bank of America. ...
  • Redfin. ...
  • Zillow. ...
  • Bankrate. ...
  • Realtor.com. ...
  • Ownerly. ...
  • RE/MAX. ...
  • Next steps.
Apr 10, 2024

What is the most accurate property value website? ›

Where to Find Accurate Property Data
  1. Lendi. Lendi is primarily an online platform where you can also get a property value report if you want to know how much your property is worth.
  2. Domain. ...
  3. Realestate.com.au. ...
  4. CoreLogic. ...
  5. Statista.
Sep 4, 2023

What is the most accurate house valuation website? ›

Most Accurate Home Value Website

The main property portals all use data from the HM Land Registry and therefore, in terms of accuracy, they're all the same. However, if you want to avoid using sites that have a vested interest in you actually selling your home, the HM Land Registry portal is the best site to use.

Who usually estimates the value of homes? ›

A professional appraiser will use the home inspection and current housing market to provide an appraised value, which is very important to the home loan process.

How do I find the present value of my home? ›

Anyway, this can be calculated as follows:
  1. Future value (FV) = Value in the present (PV) * (1 + interest rate)^(number of periods)
  2. Present value (PV) = FV / (1 + interest rate)^(number of periods)
  3. If you calculate your annual rate of return on your investment, you get 4.39% p.a.
Mar 16, 2021

How do you determine the cash value of a house? ›

Actual cash value is calculated by taking what it would cost to buy your property new today, and subtracting depreciation for factors such as age, condition and obsolescence.

How do you calculate the net worth of a house? ›

For example, in calculating the value of your home as an asset, you would take the assessed value of the property and subtract the outstanding balance on the mortgage. The value of the difference is a part of your net worth.

What negatively affects a home appraisal? ›

Less desirable location

Homes located where there's a high level of crime or low-rated schools will likely be valued lower by comparison. Nearby eyesores or high noise levels can also lower your home's appraised value. “If you're in Beverly Hills, I can tell you it has a definite impact,” Ford says.

What's the difference between appraised value and market value? ›

An appraised value is assigned to a property by a professional real estate appraiser at a specific point in time. On the flip side, market value is a variable that's determined by larger market forces and economic conditions.

Should you ever pay more than appraised value for a home? ›

Experts suggest buyers prepare to offer 1-3% above the list price, but some real estate agents say 5% is an even better buffer to add to your budget. If you make an offer above the amount you were approved for by your lender and the appraisal doesn't support it, you're on the hook for the difference.

How do you find the real value of a property? ›

Let's look at four strategies you can use to accurately determine your home's current value.
  1. Use Online Home Valuation Tools. One of the easiest ways to estimate the value of your home is by using an online home valuation tool. ...
  2. Hire A Professional Appraiser. ...
  3. Consult A REALTOR® ...
  4. Pull 'Comps' On Similar Properties.

How do I find the original price of my house? ›

The most accurate way to find out the past value of a house is to head for the public records. To find what you're looking for amongst this data, you'll need certain information, such as the property address, along with the section, block and lot numbers.

How to determine market value of property? ›

Here are four ways to find it:
  1. Go to a site like Zillow or Trulia. One quick way to find the fair market value of a home is to check online real estate sites. ...
  2. Contact a local real estate agent to run a comparable market analysis (CMA). ...
  3. Get an appraisal. ...
  4. Check the taxes.

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