What Is My Home Worth and How Do I Find Out?
If you are a homeowner, chances are you have wondered what it would sell for today. Maybe you are thinking about listing, maybe you are just curious after seeing a neighbor's house go under contract fast. Either way it is a fair question, and the answer is not as simple as typing your address into a website.
There are a few ways to get a number, and they are not all equal. Here is what each one actually tells you.
The Online Estimate: A Starting Point, Not an Answer
Websites like Zillow, Redfin, and Realtor.com all offer automated home value estimates. These tools pull public records, recent sales data, and tax information to generate a number instantly.
They are useful but have real limitations. They work with public data, and not the actual condition of your home, whether you renovated your kitchen, your roof is brand new, or your backyard backs up to a busy road.
The accuracy gap can be significant. Use these tools to get a rough idea, not to make a financial decision.
Tax Assessed Value: Not The Same Thing
A lot of homeowners look at their property tax bill and assume the assessed value is what their home is worth. That is not the case.
Tax assessments are done by your local government for the purpose of calculating property taxes. The formula varies by county and state, and they are updated on different schedules depending on where you live, sometimes annually, sometimes every few years. In many areas the assessed value runs significantly below market value, in others it runs close.
Bottom Line: your tax assessed value tells you what your local government thinks your home is worth for tax purposes. It does not tell you what a buyer would pay for it today.
A CMA From an Agent
A CMA is the most practical tool most homeowners have access to. A local real estate agent looks at homes similar to yours that have sold recently in your area and uses those comparisons to estimate your current market value. They can also factor in the condition of your home in a way that no automated tool can.
Most agents will do a CMA at no charge, especially if you are considering selling. It is worth knowing that a good CMA is not just a printout of recent sales. A thorough one accounts for differences between your home and the comps, things like square footage, age, lot size, and condition. Those adjustments are what separate a useful estimate from a generic one.
If you want to go deeper on what a CMA actually is and how it works, we wrote a full breakdown on that here:
What Is a CMA and How Does It Work.
A Formal Appraisal
If you need an official number for an estate, a refinance, a divorce settlement, or any situation where the value needs to hold up to scrutiny, a licensed appraisal is the most reliable option. A certified appraiser inspects the home in person, pulls comparable sales, and produces a documented report that carries legal weight.
They take a few days to complete after the inspection and typically cost between $300 and $600 depending on your area and property type.
What Actually Affects Your Value
Location is the biggest factor. Comparable homes in your neighborhood set the baseline. Your home's condition matters a lot too when it comes to updates, age of major systems, overall upkeep, size, bedrooms, bathrooms, lot size, and features like a garage or pool also play a role.
Knowing where your local market stands is part of getting an accurate read as well. If the inventory is low and demand is high, homes sell above what they might get in a slower market.
The Best Way to Get a Real Answer
Talk to a local agent. They have access to actual sold data in your market and can walk through your home and account for the details an algorithm misses. Even if you are not ready to sell, most agents are happy to run numbers for you.
If you want to request a home value estimate directly from a local agent, you can do that here: ListSide Home Value Estimator.
Bottom Line:
Online estimates are a fine starting point when you are just curious. But when the number actually matters, get an agent involved.