How Much Is My House Worth?

Whether you're thinking about selling, refinancing, or simply curious about your biggest investment, knowing what your home is worth right now gives you the power to make confident decisions. Market value shifts constantly—driven by buyer demand, interest rates, and what's happening in your neighborhood this month.

This guide walks you through free online estimators, manual valuation methods, 2025 market trends, and when to get a professional appraisal or instant cash offer.

What is my house worth today?

Your home's worth—often called market value—is the price a qualified buyer would pay right now. It reflects what similar homes are selling for in your area, adjusted for your property's specific features and condition.

Most homeowners look up their home's value for one of four reasons: pricing a listing, exploring a refinance, tapping into equity, or simply tracking their investment. Market value isn't a fixed number. It shifts with buyer activity, mortgage rates, inventory, and what's happening in your neighborhood this month.

Free home value estimator options

Automated valuation models, or AVMs, pull data from public records, recent sales, and market trends to estimate your home's value in seconds. You can check multiple platforms for free and see where the numbers cluster. No single estimate tells the whole story, but together they give you a reliable range.

Zillow Zestimate

Zillow's algorithm looks at public records, MLS data where available, and recent nearby sales to produce an estimate for most U.S. homes with a 3.2% median error rate for on-market properties. The platform updates as new information comes in, so you're seeing real-time shifts across a wide coverage area.

Realtor.com My Home

Realtor.com's RealValue tool tracks your home's estimated worth over time using market data and comparable sales. You can see how your value has moved as local conditions change, and the platform surfaces recent sales in your neighborhood for context.

Redfin Estimate

Redfin's model combines automated data analysis with inputs shaped by local market expertise. Where Redfin has strong agent presence and data access, the estimates reflect localized pricing nuances. The tool also shows you nearby comps and lets you update property details to refine accuracy.

How online home value calculators work

Property value estimators use algorithms to synthesize large datasets and predict what buyers might pay today. The data comes from public records, MLS feeds where available, and neighborhood-level market trends.

Most calculators weigh three core inputs:

Recent sales: Comparable properties sold nearby within the last three to six months Property details: Square footage, lot size, bedrooms, bathrooms, condition, age Market conditions: Local supply and demand, days on market, seasonal trends

Algorithms weigh the factors differently depending on the model. Some prioritize recent sales heavily, while others factor in tax assessments or user-submitted updates. That's why you might see a range of values across platforms—no two estimators use identical formulas.

Step-by-step method to calculate your home worth

Here's a practical way to approximate market value using the same principles professionals use. You'll gather data, adjust for differences, and cross-check your result against online estimates.

1. Gather recent comparable sales

Start by identifying "comps"—homes similar to yours in size, style, age, and condition that sold within the last six months in your neighborhood or school zone. Prioritize properties within a close radius and similar lot type, like corner versus interior or busy road versus quiet street. You can find comps through public records, real estate websites, or by asking a local agent.

2. Adjust for square footage and upgrades

Note the differences between your home and each comp. If a comp is 200 square feet larger, subtract an estimated value for the extra space based on the comp's price per square foot. Then add or subtract for bedrooms, bathrooms, garage spaces, lot advantages, and updates like remodeled kitchens or new roofs. Be conservative—minor upgrades rarely recoup dollar-for-dollar at sale.

3. Weigh local market conditions

If inventory is tight and buyer demand is strong, lean toward the higher end of your adjusted comp range. In softer markets with longer days on market, price toward the lower to mid-range. Check recent listing activity and sold-to-list price ratios to gauge momentum.

4. Calculate price per square foot

Divide each comp's sale price by its living area to find price per square foot. Apply a realistic range to your home's square footage. Keep in mind that floorplan quality, condition, and lot attributes can make similar-sized homes trade at different prices—this metric is a blunt tool.

5. Double-check with an online estimate

Run your address through several AVMs. If your manual calculation aligns with a tight cluster of estimates, you're likely close. Large gaps suggest your home may have unique features or the market is shifting quickly, which means professional guidance might help.

Market trends shaping home prices

Home values this year are influenced by broad forces that play out differently by location and price tier. Here's what's moving the needle.

Demographic shifts

Migration between urban cores and suburbs continues to reshape demand. Areas attracting families, remote workers, or retirees may see stronger price resilience, while neighborhoods losing population can experience softer pricing. Watch for new employer announcements, school district changes, or infrastructure projects that signal future demand.

Interest rate outlook

Mortgage affordability influences buyer purchasing power. When rates ease, more buyers can qualify and prices hold steady or rise. When rates climb or stay elevated, buyers adjust budgets and upward price pressure softens, with rates forecast to decline to 6.4% throughout 2025. Even a half-point rate move can shift what buyers can afford by tens of thousands of dollars.

Inventory levels

Low inventory typically supports higher prices and faster sales. Growing inventory gives buyers more leverage, leading to longer listing times and more price sensitivity, with 33% more homes on the market now than last year. Track how many months of supply your local market holds—less than three months signals a seller's market, while more than six months favors buyers.

Regional migration

Remote and hybrid work patterns, lifestyle preferences, and cost-of-living differences continue to shift demand across regions. Markets offering value, amenities, and job access can attract inflows that bolster prices. Conversely, high-cost metros losing residents may see price moderation or declines.

How accurate are online property value estimates?

Online estimates work best as a quick starting point, not a final sale price. Accuracy can be impacted by unique features, recent renovations not reflected in public data, unusual lots, or fast-changing market conditions.

Here's how different valuation methods compare:

Online calculator: Quick ballpark figure; may miss unique features and recent updates. Real estate agent: Local market expertise, on-the-ground comps, pricing strategy; takes more time to schedule. Professional appraisal: Formal, detailed valuation often required for loans; typically the most expensive Cash offer: Immediate selling decision with certainty on timing; reflects a quick-sale value rather than top-of-market list price

If you're preparing to sell, combining an online estimate with agent insight gives you the most complete picture. If you're refinancing or settling an estate, an appraisal may be required.

Improvements that boost the value of my home

Focus on broadly appealing, cost-effective updates that show well in photos and during showings. Not every improvement adds dollar-for-dollar value, so prioritize projects with high return potential.

Curb appeal upgrades

Fresh landscaping, trimmed shrubs, mulch, exterior touch-up paint, and a standout front door elevate first impressions and signal a well-cared-for home. Buyers form opinions within seconds of arrival, so curb appeal sets the tone for the entire showing.

Energy efficiency additions

Weatherization, smart thermostats, LED lighting, and efficient appliances appeal to buyers seeking lower utility costs and reduced environmental impact. The upgrades often pay for themselves over time and can differentiate your home in competitive markets.

Minor kitchen refresh

New cabinet hardware, updated lighting, fresh paint, faucet replacements, and resurfaced or painted cabinets can modernize the space without a full remodel, delivering a 96% ROI. Kitchens drive buyer decisions, but you don't need a $50,000 renovation to make an impact.

Decluttering and staging

Deep cleaning, decluttering, neutral décor, and strategic staging improve perceived space and help buyers visualize themselves living there. Even small changes like removing personal photos and rearranging furniture can make rooms feel larger and more inviting.

When to get a professional appraisal or cash offer

Consider a professional appraisal for refinancing, estate planning, divorce, or when you need a documented value. Appraisers provide an unbiased, formal assessment based on in-person inspection and comparable sales analysis. Lenders typically require appraisals for mortgage transactions to verify collateral value.

If you're preparing to sell and want certainty and speed—especially if you're coordinating a purchase or relocation—a cash offer can simplify timing, reduce contingencies, and eliminate showings. Get an instant cash offer from Opendoor to see what your home could sell for today, with flexible close timelines and transparent pricing.

Ready to see your exact offer? Get a cash estimate from Opendoor

If you want a quick, no-obligation way to see your home's current market value and explore selling options, get an instant cash offer from Opendoor. You'll see a clear, transparent price with flexible close timelines—no showings or open houses required. You can review the offer without any commitment to sell, giving you the information you need to make the best decision for your next move.

FAQs about determining house value

How often should I check my home value estimate?

Check quarterly or when major market changes occur. Online estimates update automatically, but most markets shift gradually, so frequent checks aren't necessary unless you're preparing to list or refinance. If mortgage rates drop sharply or your neighborhood sees a surge in sales, revisit your estimate.

What makes my home value different from my neighbor's house?

Condition, quality of upgrades, lot size and privacy, noise exposure, orientation, school zoning, and micro-location can all create meaningful value differences even between similar floor plans. Two identical homes can trade at different prices based on factors like natural light, views, or proximity to amenities.

Can I use my home's assessed value for tax purposes as market value?

Not reliably. Assessed values are designed for taxation and often lag real-time market conditions—they may be higher or lower than what buyers would pay today. Assessors typically review properties on multi-year cycles, so recent market shifts won't be reflected immediately.

Do home improvements always increase my property value?

No. Improvements add value when they align with neighborhood expectations and buyer preferences. Over-improving for the area or making highly personalized upgrades can yield limited return. A $100,000 pool might add $30,000 in value in one neighborhood and nothing in another—context matters.