4 Best Online Home Value Estimators
Online home value estimators are a free, easy way to get a ballpark estimate for your home.
Your home value matters when you are trying to sell. After all, it determines how much money you’ll make from selling. Online home value estimators are an excellent first step in determining your listing price before connecting with an agent.
Here are our four favorite online home valuation estimators ranked by ease of use and accuracy!
1. Redfin
The process of getting an estimate with Redfin is easy, simply enter your address. Redfin emphasizes its use of comparable homes in your area to calculate an estimate of your home’s value based on current market conditions. Redfin uses the most accurate data from the Multiple Listing Service (MLS), which agents use. Redfin produces the most accurate estimates and performs very well for off-market homes.
2. Realtor
Realtor.com pulls together estimates from Collateral Analytics, CoreLogic, and Quantarium, which are three companies that use propriety valuation models to provide home valuations to lenders. Realtor.com provides all three of these estimates, if available for your home, and also the median estimate. This home value estimate is how the bank will view the value of your home.
3. Trulia
Trulia provides a Trulia Estimate of your home. Simply add the address of your home and receive an estimate along with the publicly available features and characteristics of your home.
Trulia uses the following information to estimate the value of your home:
The home’s physical characteristics (e.g. location, number of bedrooms, etc.)
Property tax information
Recent sales of similar nearby homes
4. Zillow
Zillow provides a Zestimate- a Zillow estimate- of your home. It is an easy tool to use. Simply add your address and get an estimate in seconds.
Zestimates use the following information:
Home characteristics including square footage, location or the number of bathrooms.
On-market data such as listing price, description, comparable homes in the area and days on the market
Off-market data — tax assessments, prior sales and other publicly available records
Connect with an Expert to Get A Better Estimate
Online home value estimators are just the beginning. Their valuations are based on publicly available data and may not take into account important factors about your home such as renovations, special features, and the local area. A real estate agent who is an expert in your area can provide a personalized estimate that takes into account the nuances and special features of your home. Connect with a trusted expert to find an estimate tailored specifically to your home.