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Checking a home valuation tool periodically can be helpful even if you’re not thinking of selling. The Redfin Estimate is updated daily for homes that are for sale, and weekly for those that are off the market. Homes from Butchertown to Jeffersontown are set to see changes in their home’s assessed value — and later, their property tax bill — thanks to this year’s round of reassessments.
Find a trusted agent during Best Time to Sell
Our estimating method differs from that of a comparative market analysis completed by a real estate agent. We use data from a geographical area that is much larger than your neighborhood — in fact, we often use all the data in a county to help calculate the Zestimate. Though there may not be any recent sales in your neighborhood, even a few sales in the area allow us to extrapolate trends in the local housing market.
What is your home currently worth?
Others, like the current economy and local housing market trends, are less in your control. A CMA is a free report prepared personally by one of our agents that compares your home to similar properties in your neighborhood that are currently for sale or have recently been sold. While the Zestimate is the estimated market value for an individual home, the Estimated Sale Range describes the range in which a sale price is predicted to fall, including low and high estimated values.
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It is a computer-generated estimate of the value of a home today, given the available data. There are three main types of home valuation, and all might assign slightly different dollar amounts to the same house. For example, the same home may have an assessed value of $300K, an appraised value of $395K and a fair market value of $400K. Any number of factors might affect the value of your home, including the neighborhood you’re located in, the size of your lot and the age and condition of the structure itself. While this calculator is designed to help you to understand the estimated value of your house, the actual value of your house might be above or below the result and is dependent on other factors.
The most accurate online home estimate
However, it can be tough to find a property that's exactly the same as yours and even then, the asking price may not represent the real sold prices in the area. This is especially true in the Greater Toronto Area where some home sellers list their homes for lower prices in order to encourage bidding wars. In addition, some homes may be overpriced and could have stayed on the market for a long time. It can take a lot of time and work to get an estimate using this method.
To calculate the Redfin Estimate, we combine hundreds of data points about the market, the neighborhood, and the home itself—all to provide you with the most accurate home-valuation tools. The best way to value your home is to check and compare the sold prices of similar homes around you. Property type, square footage, age, location, renovations, and much more can impact your home's market price. Refinance your existing mortgage to lower your monthly payments, pay off your loan sooner, or access cash for a large purchase.
Can a real estate agent help me get an accurate home valuation?
Or if you're buying, it can indicate how much competition you'll face when you make an offer. Compare Redfin CompeteScores in Raleigh, Philadelphia, Houston, and Sacramento, or check your own neighborhood's score on Redfin.com. One useful tool to help with home valuation is to see what companies are willing to pay for your home, which can be done at the Seller’s Marketplace.
If your ultimate goal is to sell your property, a Realtor can help determine the value of your home and an accurate sales price. The comparative market analysis (CMA) provides you with an estimate of your home’s value based on the Realtor’s assessment of the residence and housing market trends in your area, including recent purchase prices for comparable homes. Our models can find neighborhoods similar to yours and use sales in those areas to extrapolate trends in your housing market.
While we can’t give any specific information on expansion, we hope to provide the Redfin Estimate for as many homes as possible over time. Use Redfin's home value estimator to get a free, instant home-value estimate, see nearby sales and market trends, and update your home facts and photos. Our online valuation service gives you a free and instant estimate of your home’s current value.
We’ll walk you through the loan qualification requirements, various first-time homebuyer programs, and loan options available. Believe it or not, there is a right time, and knowing when that is can get your home sold faster and at a higher asking price. Pennymac’s Home Value Estimator will take the address of a property and weigh multiple factors in order to give you a reliable estimate. We refresh Zestimates for all homes daily, but on rare occasions this schedule is interrupted by algorithmic changes or new analytical features.
Free online home valuations can be viewed as snapshots in time, pulled from a variety of different public sources and data models, which give accurate property estimates. This is very useful when monitoring your investment over time to determine how much equity you have in your home to refinance or if you are simply in the market to purchase your next home. You can compare valuations to a seller’s listing price or keep an eye on a specific neighborhood that you wish to move to in the future. Like other estimates, the Redfin Estimate is not a formal appraisal or substitute for the in-person expertise of a real estate agent or professional appraiser. If you’re thinking about selling your home, or just want to talk more about what it’s worth, we encourage you to contact a Redfin real estate agent at any time. Speaking with a Redfin Agent is free of charge, and there is no obligation to list your home for sale or work with Redfin.
The Home Valuation tool provides an estimated market value for your home using data collected from third parties and public records and is intended to provide you with a general value of the property. This is not an official appraised value nor is it the value that Guaranteed Rate, Inc. will rely upon in making a determination of value or in making a lending decision. Guaranteed Rate, Inc. will rely upon the value as provided by a licensed appraiser contracted by the company.
Some areas have more detailed home information available — such as square footage and number of bedrooms or bathrooms — and other areas do not. The more data available, the more accurate the Zestimate value will be. This, ultimately, is the amount a buyer would be willing to pay for the home. Fair market value is heavily dependent on the state of your local housing market, in addition to the factors listed above. It’s a question every homeowner wants to know the answer to, especially if you’re thinking about selling. We offer the Redfin Estimate where we have enough local and home-specific data to maintain our accuracy levels.
If you see two Zestimates for the same property, please let us know by visiting Zillow Help Center and selecting Submit a request. You may see more than one Zestimate for your address if you are a homeowner with multiple parcels of land. If you officially combine parcels, the county will send us updated information. To get a federally guaranteed loan, a law called FIRREA (the Federal Institutions Reform, Recovery and Enforcement Act) requires you to get an appraisal from a professional appraiser. Lending professionals and institutions are prohibited from using other services when making any loan-related decisions. However, for some homes we may not have enough data to provide a home valuation that meets our standards for accuracy.
Make sure any renovations done to your home are accurate and up-to-date. If you’ve redesigned your kitchen or installed a swimming pool, you’ll recoup some of what you paid for these upgrades when you sell. But your return on investment will vary depending on what kind of renovation you did, and how desirable it is to buyers in your area.
If you have feedback about an individual agent or office, please locate the office and contact the manager. There are a variety of ways to get the information you need, depending on how much time and effort you are willing to put in, as well as cost if you seek professional help. Understand your home's value to determine how much equity you can leverage for a cash-out refinance. In some parts of the country, we may have basic information on some homes — but not enough information about enough homes to compute a Zestimate. The Redfin Estimate History graph provides a look back at how a home's value changes over time. The Redfin Estimate value each month represents the Redfin Estimate average of all the days in that month.
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