Where to get a current home value estimate
The fastest way to find a rough estimate is through online tools like Zillow, Redfin, Realtor.com, or your county assessor's website. These sites use public records, recent sales nearby, and property details to generate a number in minutes. The estimate is free and requires only your address.
The number you see is not official — it is a starting point. Online estimates can be off by 5 to 15 percent or more, depending on how recent the comparable sales data is and whether your home has unusual features. A home in a fast-moving market may have shifted value since the last sale nearby.
If you need a number for a specific purpose — selling, refinancing, insurance, or property tax appeal — you will need something more precise than an online estimate. That means either a professional appraisal or a comparative market analysis (CMA) from a real estate agent.
Key Takeaways
- Online tools like Zillow and your county assessor's website give free estimates in minutes but can be off by 5 to 15 percent or more.
- A professional appraisal costs $300 to $500 and is required by lenders; a real estate agent's market analysis is free but is designed to help you list the home.
- Your county assessor's value is used for property taxes and is often lower than market value; you can challenge it if you believe it is wrong.
- Recent sales of similar homes in your neighborhood are the most reliable guide to what your home would actually sell for right now.
Professional appraisals versus agent market analyses
A professional appraisal is an independent assessment by a licensed appraiser who inspects your home, measures it, photographs it, and compares it to recent sales of similar homes. Appraisals typically cost $300 to $500 and take one to two weeks. Lenders require an appraisal before they will approve a mortgage or refinance.
An appraisal is binding for the lender's purposes but is not a legal information of value — it is one professional's opinion. If you disagree with the number, you can request a reconsideration or hire a second appraiser, though the second one will also cost money.
A comparative market analysis (CMA) from a real estate agent is free. The agent pulls recent sales of homes similar to yours — usually within the last 90 days and within a mile or two — and shows you what they sold for. A CMA is useful for understanding the local market, but it is created to support the agent's case for listing your home, so it may lean toward a higher estimate.
If you are thinking about selling, ask two or three agents for their market analyses. You will get different numbers, and the range tells you something about the uncertainty in your neighborhood's market.
What your county assessor's value means
Your county assessor assigns a value to your home every one to three years for property tax purposes. You can find this number on your county assessor's website by searching your address. It is public information.
The assessor's value is almost always lower than what your home would sell for on the open market. Assessors use formulas based on sales data, but they are constrained by state law and do not inspect every home. The assessed value is used to calculate your property tax bill, not to tell you what your home is worth to a buyer.
If you believe your assessed value is too high — for example, if your home has major damage or your neighborhood's market has dropped — you can file an appeal with your county assessor's office. The process and deadline vary by state. Your assessor's office can tell you whether your home is may be able to access and what documents you need.
How recent sales in your area set the real price
The most reliable way to understand your home's current value is to look at what similar homes actually sold for in the last 30 to 90 days. "Similar" means the same number of bedrooms and bathrooms, similar square footage, similar condition, and in the same neighborhood or within a few blocks.
You can find recent sales through Zillow, Redfin, your county assessor's website, or the local multiple listing service (MLS) if you have access. Public records show the sale price, sale date, and property details. If you see a home that sold for much less than the online estimate of your home, that is a signal that the estimate may be too high.
Pay attention to the condition of the homes you are comparing. A home that sold for $50,000 more than yours but had a new roof, updated kitchen, and no foundation issues is not a direct comparison. Adjust your thinking downward if your home needs repairs.
Why your home's value changes month to month
Home values shift with interest rates, local job growth, school ratings, and how many homes are for sale in your area. When mortgage rates rise, buyers can afford less, and prices often fall. When rates drop, demand increases and prices tend to rise. A neighborhood with a new employer moving in may see values climb; one with a factory closing may see them fall.
The online estimates you see update as new sales data comes in, usually monthly. If your neighborhood has had no recent sales, the estimate may be based on homes sold six months or a year ago, which means it could be outdated.
If you are planning to sell or refinance in the next few months, check the online estimate again in a few weeks. If you are not planning to move or borrow, the exact current value matters less than the trend — whether your home is gaining or losing value over time.
When you need a formal valuation and when you do not
You need a professional appraisal if you are refinancing a mortgage, taking out a home equity loan, or settling a divorce or estate. Lenders will not move forward without one. You also need one if you are challenging your property tax assessment and the assessor's office requires it.
You do not need an appraisal if you are simply curious about your home's value or trying to decide whether to list it for sale. An online estimate and a few agent market analyses will give you enough information to make that decision.
If you are selling, the appraisal happens after you have an offer. The buyer's lender orders it, not you. You pay for it only if you are the buyer in a transaction.
How to use an estimate to make decisions
Think of an online estimate as a range, not a fixed number. If Zillow says your home is worth $350,000, assume the real value could be anywhere from $330,000 to $370,000 depending on condition, recent upgrades, and what similar homes have actually sold for.
If you are considering a refinance, use the estimate to calculate whether you have enough equity. If you owe $200,000 and the estimate is $350,000, you have roughly $150,000 in equity. But the lender will order an appraisal, and if it comes in lower, your equity shrinks.
If you are thinking about selling, use the estimate as a starting point for a conversation with an agent. Ask them to show you the recent sales they used to arrive at their number. If their estimate is much higher than the online tools, ask why — it may be legitimate, or it may be optimistic.
Frequently Asked Questions
Can I use an online estimate to refinance my mortgage?
No. Your lender will order a professional appraisal, which costs $300 to $500 and takes one to two weeks. The online estimate is useful for deciding whether refinancing makes sense before you pay for the appraisal, but the lender will not accept it as proof of value.
Why does Zillow say my home is worth more than Redfin?
Different sites use different algorithms and may weight recent sales, property features, or market trends differently. The gap between estimates usually narrows when you look at actual recent sales in your neighborhood. If the two estimates are far apart, that is a sign the market in your area is uncertain or changing quickly.
If my county assessor's value is low, does that help me at tax time?
Yes. The assessed value is what your property tax bill is based on. A lower assessed value means lower taxes. However, you cannot simply ask the assessor to lower it without evidence — you would need to show that comparable homes sold for less or that your home has damage or defects.
How often should I check what my home is worth?
If you are not planning to sell or refinance soon, once or twice a year is enough. If you are actively considering a sale or refinance, check monthly to watch the trend. After major home improvements, check again to see if the estimate has moved up.
What if I think the appraisal is wrong?
You can request a reconsideration of value (ROV) from the appraiser, usually for a small fee. Provide evidence of recent comparable sales or major repairs the appraiser may have missed. If the appraiser does not budge, you can hire a second appraiser, but that costs another $300 to $500.