Question 1

How does Opendoor calculate home values?

Accepted Answer

Opendoor uses models that analyze millions of data points including public records, recent home sales, listing activity, price trends, and property characteristics. We compare your home to recently sold comparable properties in your area and adjust for current market conditions to produce an estimate.

Question 2

How accurate is the home value estimate?

Accepted Answer

Most Opendoor estimates are within 10% of the final sale price, and over 95% fall within 20% of the actual sale price. Accuracy varies based on market activity, data availability, and unique property features, and improves when there is more recent comparable sales data in your area.

Question 3

How often are estimates updated?

Accepted Answer

Home value estimates refresh regularly using the latest market data. As new sales occur, listings change, and market conditions shift, the estimate is updated to stay current.

Question 4

Why did my estimate change?

Accepted Answer

Estimates can change due to new comparable sales nearby, shifting local market conditions, seasonal trends, updated tax assessments, or new listing activity. These updates keep the estimate aligned with current market reality.

Question 5

What data sources are used?

Accepted Answer

We use public property records, MLS data, recent sale transactions, tax assessments, property characteristics, local market trends, and economic indicators. Combining these sources helps keep estimates accurate across different markets and property types.

Question 6

Does the estimate include renovations?

Accepted Answer

The initial estimate is based on public records and comparable sales. Significant renovations that are not yet reflected in public records may not be fully captured. For a valuation that accounts for recent improvements, you can request a detailed assessment by starting the selling process with Opendoor.

Question 7

Can I update my home details?

Accepted Answer

To get a more personalized valuation that accounts for specific features, upgrades, or condition, start the selling process with Opendoor. You can then provide details about your home that are used to refine the estimate.

Question 8

Is this the same as an appraisal?

Accepted Answer

No. This is an automated valuation model (AVM), not a professional appraisal. An appraisal is performed by a licensed appraiser who inspects your property in person. Our estimate is designed for planning and to give you a quick sense of your home’s value. Lenders typically require a professional appraisal for mortgage purposes.

Question 9

Does using the estimator affect my credit?

Accepted Answer

No. Using the home value estimator has no impact on your credit score. There is no credit check, and the tool is free with no obligation. You can check your home’s value as often as you’d like.

Question 10

Is the estimate free?

Accepted Answer

Yes. Getting a home value estimate from Opendoor is completely free with no obligation. There are no hidden fees, and you are not required to work with Opendoor after receiving your estimate.

Question 11

What factors affect a home’s value the most?

Accepted Answer

The biggest factors are location (neighborhood, school district, and proximity to amenities), size (square footage and number of bedrooms and bathrooms), condition and age, recent comparable sales, local supply and demand, and broader economic factors like interest rates. Unique features and recent upgrades can also move value meaningfully.

Question 12

How can I increase my home’s value?

Accepted Answer

Focus on high-impact improvements: updating kitchens and bathrooms, improving curb appeal, fresh interior and exterior paint, replacing dated fixtures, keeping core systems (HVAC, plumbing, electrical) in good shape, and addressing deferred maintenance. Targeted cosmetic updates often deliver the best return.

Question 13

What is the difference between market value and appraised value?

Accepted Answer

Market value is what a willing buyer would pay a willing seller today - essentially what your home would likely sell for. Appraised value is a licensed appraiser’s professional opinion based on an in-person inspection and comparable sales. Lenders typically require an appraisal for financing.

Question 14

Are online home value estimates reliable?

Accepted Answer

Online estimates are a useful starting point and are generally accurate for typical homes in areas with strong sales data. They can’t fully account for unique features, condition, or renovations not in public records, so for major decisions consider a professional appraisal or a detailed assessment.

Question 15

When should I get a professional appraisal?

Accepted Answer

Consider a professional appraisal when refinancing or taking out a home equity loan, settling an estate, going through a divorce, appealing property taxes, selling a unique property, or making major financial decisions based on your home’s value.

What is my home worth?

How Opendoor estimates your home’s value

We analyze millions of data points

We compare similar nearby homes

We adjust for market conditions

We update continuously

Estimator vs. appraisal vs. agent CMA

Opendoor Home Value Estimator

Professional appraisal

Agent CMA

Built on data you can trust

Keep planning your sale

When is the best time to sell a house?

Get a cash offer

Frequently asked questions