What Is My Home Worth? A Guide to Finding the Value of Your House

1. How can I estimate the value of my home?

There’s more than one way to determine the value of your home. Some of the best and easiest include:

• Use an online valuation tool, such as HomeLight’s Home Value Estimator (HVE), or an automated valuation model (AVM)
• Talk to an experienced real estate agent
• Request a professional appraisal
• Check public records

2. How does HomeLight’s online home value estimator work?

HomeLight’s online home value estimator combines details you provide about your property with data from public records and multiple market sources to create a real-time estimate based on current trends. It also asks a few quick questions about your home’s type and condition to make the estimate more personalized, which is something many other online tools don’t take into account.

In addition to the estimate, HomeLight provides a list of top local agents with proven track records for strong sale prices, giving you expert insight into accurate home pricing.

That said, like most online valuation tools, the estimate isn’t exact. While it relies on hard data, it may not fully capture your home’s upgrades, additions, or unique condition.

Find out what your home might be worth in two minutes and connect with a top agent with HomeLight’s Home Value Estimator. Whether you’re simply curious about your home’s ballpark value or using this information as the first step toward refinancing or selling, it’s a helpful place to start.

3. Should I pay for a professional appraisal?

“An appraisal provides the most accurate valuation,” Carroll says. The caveat is that it is one person’s opinion at one moment in time. The appraised value can be very different three to six months later since an appraisal is largely based on what has recently sold in the area.

If you’re considering refinancing your home or are interested in a HELOC, your lender will typically require an appraisal performed by an independent third party. The cost of a professional appraisal varies by region, with appraisals in the Pacific Northwest usually commanding higher prices than in the South.

Thankfully, however, the Dodd-Frank financial reform from 2010 dictates that a professional appraiser’s fees must be reasonable and customary for the geographic market.

Keep in mind that different loan types, like FHA, VA, and conventional, will have different appraisal requirements.

4. Can I get a home valuation from an agent if I’m not selling my home right now?

Most real estate agents provide you with a CMA as part of their listing services. A thorough CMA, which often exceeds 30 pages of detailed examination, is a tool that should provide a professional valuation of your home, comparing your property with similar properties in the neighborhood (known as comps) while taking the current market into account.

Some agents charge $100 to $200 for compiling a CMA, while others offer it for free as a way to earn your business.

“I don’t get paid for a CMA,” Carroll states. She considers it part of relationship building. In an industry based on referrals and client relations, she likes to help past clients in the hope of future business. “Not everything we do is compensated.”

Some states don’t allow real estate agents to get paid for creating a CMA. “You would have to be an appraiser if you’re paid.” Her brokerage (as well as some states) doesn’t even permit its agents to be paid for a Broker Price Opinion (BPO) in which a real estate broker offers a written estimate on a home’s valuation based on expert judgment.

5. What factors impact appraised home value?

Some things increase your home’s value, while others hurt it. There are things on both those lists that cannot be changed, but there are also things on both lists that can be.

6. Does a messy house affect an appraisal?

Technically, decor, moveable items, and cleanliness aren’t supposed to impact an appraiser’s assessment of your home. Human nature, however, intervenes.

Messy, dirty, or cluttered homes can send the wrong signal, making an appraiser wonder whether the property has been properly cared for over the years. Plus, if clutter gets out of hand, it can limit an appraiser’s ability to see and assess your home, potentially affecting the final appraisal value.

But it all depends on the market, Carroll says. In a seller’s market, a spotless, well-kept home isn’t as important as it is in a buyer’s market.

7. What makes property values go up or down in any given time period?

As mentioned, property values fluctuate over time. There are several reasons for this, including:

• Zoning regulations: Zoning regulations are local rules that determine what you can and can’t do with a property, from the type of buildings allowed to how a home can be expanded or renovated. These rules can impact your home’s value by affecting the neighborhood’s look, future development, and the price buyers are willing to pay. For example, a home in an area with zoning that supports desirable growth may become more valuable, while strict restrictions could limit its potential.
• Interest rates: The rates borrowers pay to finance a home loan rise and fall. When interest rates fall, buyers can borrow more money, and home prices tend to rise. When interest rates rise, buying power decreases, and home prices typically slow their growth or fall.
• Overall state of the economy: The overall health of the economy can have a big impact on home values. Factors like gross domestic product (GDP), job growth, manufacturing activity, and the cost of goods help show how the economy is doing. When the economy slows down, the housing market often follows, which can cause home values to dip, while a strong economy can boost demand and drive values higher.
• Supply chain and material costs: The rising cost and limited supply of lumber, steel, aluminum, and other construction materials drive up housing costs.
• Politics: Politics can impact the economy, particularly if the government stimulates the consumer climate. This could be in the form of legislative action to lower interest rates or tax incentives. Sometimes, the political leanings of a geographic region can impact the value of real estate.
• Disasters: Whether it’s a natural disaster like a hurricane or tornado or a human-caused event like a fire, disasters can affect nearby home values in unexpected ways. In some cases, damaged properties can reduce the available housing supply, increasing demand from displaced homeowners and potentially driving up values for unaffected homes. On the flip side, homeowners who repair or upgrade their properties after a disaster may see their home values increase as a result of those improvements.
• Bidding wars: In a seller’s market, where demand exceeds supply, buyers may bid higher than the list price to win the property. When a home sells for more than its original list price, that higher sale price can become a new comparable for nearby properties, even if the appraisal came in lower. Conversely, in a buyer’s market, where homes are plentiful and demand is low, buyers have more negotiating power, which can push home values down.

8. Are home appraisals public record?

In general, home appraisals are not public record. However, some portions of an FHA appraisal are released to an FHA website and may be accessed for up to six months.

In many states, public records will reveal limited information, such as recent sales prices, number of beds and baths, and square footage. However, there are a handful of non-disclosure states in which no information is made public.

In non-disclosure states, sale prices in a real estate transaction are not disclosed or recorded as public record, whether to protect the homeowner’s privacy or the value of the industry’s multiple listing service (MLS).

However, the National Association of Realtors explains on its website that non-disclosure states “cannot withhold sold data from MLS data feeds.” The restrictions only apply to what can be publicly displayed, not the information available through MLS systems.

When there isn’t enough reliable information to figure out what a home is worth, it can sometimes lead to values being underestimated. In these cases, homes may end up being priced lower than they should be because there isn’t enough data to paint the full picture.

9. What will my house be worth in five years?

Carroll likes to say that you never lose in real estate if you hold onto property long-term. Depending on your goals, however, you could lose money if you buy or sell at the wrong time.

Being able to predict your home’s value in five years can help you plan. You can start by consulting the Federal Housing Finance Agency FHFA HPI Calculator to get an idea of what a home previously purchased would sell for today. It takes into consideration the average rate of appreciation of all homes in the area.

The easy-to-use calculator asks you to input your state, the quarter and year you purchased the property, and the original purchase price. It then calculates how your home’s value has increased over the timeframe by referencing appreciation trends for the area.

It’s a ballpark figure. For a truly accurate assessment, ask an experienced agent to provide an opinion that takes into consideration specifics about your property and developments in the neighborhood.

10. What will my house be worth in 10 years?

Historically, median home values have seen a steady price growth increase since the 1960s. Carroll mentions what real estate agents call a “seven-to-ten-year swing,” which refers to the typical housing cycle where prices rise for several years, peak, then cool or decline before beginning another upswing. “I’ve talked to economists. The predictions have been accurate.”

Until COVID-19, that is. The U.S. housing market exceeded the ten-year upswing, in part due to the COVID effect and its ripples in the supply chain. “Once the pandemic hit,” Carroll recalls, “we thought it was [the beginning of] the downturn. But it didn’t happen.”

The housing market took off during the pandemic, but by 2024 to 2026, things started to cool down. Mortgage rates have been hovering around the 6% to 7% range, price growth has slowed to modest gains, and while more homes are hitting the market, inventory is still tight. In a market like this, Carroll advises clients to “strategically think of where you want to be” and try to gauge the market’s future.

Looking at the general trend of America’s home price history can help predict potential trends 10 years in the future. However, even this extensive historical data cannot account for unexpected dips and surges in the market.

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The best equation to estimate the value of your home

Whether you’re just curious about your home’s value or need an estimate for something more urgent, like refinancing, applying for a home equity loan, checking your property taxes, planning an estate, settling assets, or going through a divorce, you can get a rough idea using an online valuation tool. However, note that AVMs don’t consider upgrades or improvements to your home or neighborhood, which reduces their accuracy.

HomeLight’s Home Value Estimator can be your convenient starting point for a free valuation. For a better idea of your home’s value, HomeLight’s HVE can direct you to a local top real estate agent, who can provide an even better estimate by preparing a CMA that presents a very accurate snapshot of your home’s value.

You can do some research on your own by checking public records, but an experienced agent will likely have a better understanding of the local market and nearby properties. They’ll also have access to additional resources, like the MLS, that can provide more detailed information to help determine a home’s value.

If you want the most accurate idea of what your home is worth, an appraisal is your best bet. A licensed appraiser will take a closer look at your property and provide an unbiased estimate based on the home itself and current market conditions.

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