Best Home Value Estimator Websites of 2024

Whether you’re planning to refinance your mortgage, get a second mortgage or take out a home equity loan, you should always have a rough idea of what your home is worth. Online home value estimate websites are a great way to get an approximation of your house’s current value. However, not all home value websites are created equal. Each tool has its parameters to determine a property’s value, so you’ll likely get different estimates of varying accuracy from each website. When it comes to your home, it’s crucial to find a trustworthy website that provides reliable results. Here are our top picks for the Best Home Value Estimator Websites of 2024.

Criteria for Choosing the Best Home Value Estimator Websites 

Selecting the top home value estimators involves examining several critical aspects: accuracy of the valuations, ease of use, the depth of data analysis, update frequency, and the addition of user-centric features. These criteria ensure that users not only receive current and precise estimates but also a comprehensive market overview.

Details About the Best Home Value Estimator Websites of 2024

When it comes to valuing your home, it’s important to look through the resources available to you. Below, you’ll find a number of home value estimator websites — but keep in mind you shouldn’t box yourself in and only use one of them.

Zillow

Features & Accuracy: Zillow’s Zestimate is perhaps the most well-known tool, drawing from over 110 million U.S. homes. It uses a wide array of data, including user-submitted information, local market trends, and public records. Zillow has continued to refine its algorithm, and as of 2024, boasts a median error rate of 2.4% for listed homes and 7.49% for unlisted properties, reflecting its commitment to accuracy.

Evolution & User Experience: Over the years, Zillow has enhanced its platform with features like value change history, comparable home sales, and local market analysis, making it a comprehensive resource for homeowners. The platform’s user interface remains intuitive, catering to both desktop and mobile users.

To get a Zestimate, all you need to do is input your address into its search bar. Zillow will then provide their estimate, as well as other useful details, such as the projected value range for your home, changes in value within the last 30 days, and the value of recently sold houses in the area.

Zillow is a great starting point for determining your home’s value. Both their website and mobile apps are accessible and easy-to-use. Whether you’re looking to sell, buy, or rent, they also offer additional resources and information if you want to take the next step after getting your Zestimate.

Redfin

Redfin is another popular home value site and you can work directly with Redfin to sell or purchase a home. Since they are a brokerage, Redfin has access to more information, making them one of the most accurate home value estimators available.

Features & Accuracy: Redfin stands out not only as a home value estimator but also as a full-service real estate brokerage. Its Redfin Estimate boasts a median error rate of 2.08% for on-market homes and 6.45% for off-market homes, achieved through extensive data points from MLS listings and real-time market conditions.

Evolution & User Experience: Redfin updates its estimates daily, providing a highly accurate, real-time market value. Its integration with Redfin’s brokerage services offers users a seamless transition from valuation to sale, enhancing the overall user experience.

You’ll need to put your street address into their online tool to see your Redfin Estimate. Additionally, you can manually input details about your home to improve the accuracy of your estimate.

RE/MAX

Features & Accuracy: RE/MAX, a global real estate leader, offers an automated valuation model (AVM) that sources data from public records and local market trends. While acknowledging the limitations of AVMs, RE/MAX encourages users to consult with their agents for precise evaluations, bridging the gap between automated estimates and expert appraisals.

Evolution & User Experience: The platform provides estimates from various sources, including Eppraisal and Zillow, offering users a broad perspective on their property’s value. RE/MAX’s commitment to accuracy and convenience makes it a valuable tool for homeowners worldwide.

To use their tool, you need to input your street address and verify a few basic details about your home. You will then find automated estimates from three different sources: Eppraisal, SmartZip, and Zillow. With RE/MAX, you do sacrifice some accuracy for this convenience, but you’ll still get a general idea of your home’s value.

Realtor.com

Features & Accuracy: Operated by the National Association of Realtors, Realtor.com provides detailed estimations by leveraging MLS data, offering both public and owner’s views for comprehensive insights.

Evolution & User Experience: With features like value change graphs and detailed market trends, Realtor.com has become a go-to platform for homeowners seeking to understand their property’s market position over time.

They provide both a “Public View” and “Owner’s View” of each home. While Public View shows a rough estimate with basic information, Owner’s View will offer far more insight and detail.

In Owner’s View, you’ll see a median home estimate, followed by a graph charting the changes in your home’s value over the last five years. The graph contains historic estimates from three different valuation providers. With this variety and helpful graph, Realtor.com’s estimator is both comprehensive and easy to use.

Trulia

Features & Accuracy: Owned by Zillow, Trulia offers unique market insights, including neighborhood reviews and local crime rates, alongside its home value estimates. While it redirects users to Zillow for direct estimations, Trulia excels in providing a holistic view of the property and its surroundings.

Evolution & User Experience: Trulia’s mobile app stands out for its design and ease of use, offering detailed property histories and neighborhood information that complement its valuation tools.

When you input your address into the search bar on their website, Trulia will provide a description of your home, an overview of its history, and neighborhood details (including information about schools and crime). You’ll have to contact them directly to get an actual estimate of your home’s value.

Eppraisal.com

Features & Accuracy: Eppraisal.com focuses on providing home value estimates, complemented by data from other estimators for comparison. It relies on public records and recent sales data, offering users a broad view of their property’s value.

Evolution & User Experience: Eppraisal has expanded its offerings to include refinancing calculators and investment advice, evolving into a versatile resource for homeowners.

After you put in your street address, Eppraisal.com will show you their estimate, as well as ones from other estimate sites for comparison. They also include an easy-to-use mortgage and refinancing calculator directly below the listing.

Eppraisal.com uses public records, property information, and recent sales of similar houses in the area to come up with their estimates. It can take some time to update estimates, depending on how long it takes for different municipalities to update their records. If the listing contains incorrect information about your property, you can always contact them to correct it, which may increase the accuracy of your estimate.

Financial Institutions Offering Home Value Estimators

Chase Home Value Estimator

Chase’s tool integrates seamlessly with its banking services, offering customers a straightforward way to understand their home’s value, especially when considering financial products like mortgages or equity loans.

This tool is particularly beneficial for Chase customers looking to gain a clear understanding of their home’s market value without undergoing the traditional, often lengthy, appraisal processes.

It’s especially useful for those considering financial products such as mortgages or home equity loans.

What truly distinguishes Chase’s estimator from the crowd is the unparalleled depth and breadth of data it leverages. Drawing from over 10,000 sources, both governmental and proprietary, the tool has a foundation built on a rich data reservoir. This vast database ensures the accuracy and reliability of the estimations provided.

Minimal Input for Maximum Insight: What’s remarkable about Chase’s tool is its simplicity from the user’s end. All it requires is the address of your property. This simplicity belies the complex machinery working behind the scenes to fetch and analyze vast amounts of data, providing you with an accurate estimation of your home’s worth.

Seamless Integration with Chase’s Financial Ecosystem: Chase’s home value estimator isn’t an isolated tool; it’s a cog in a much larger machine. The company is a behemoth in the financial sector, offering a wide array of services that cater to homeowners. Whether you’re looking to secure a mortgage for a new purchase, considering refinancing options for your current home, or exploring the potential of a home equity line of credit, Chase positions its home value estimator as a foundational step in this journey. It’s about empowering you with knowledge – understanding your home’s value is pivotal in making informed financial decisions.

How accurate is the Chase Home Value Estimator?

Unlike Zillow or Redfin, the Chase Home Value Estimator website doesn’t let us know the margin of error. It’s important to understand that home value estimator tools can’t give us an exact estimate, so that’s why they give us a range to account for potential errors in their estimate.

That being said, don’t base the value of your home solely on just one website, compare them so you can get the most value.

Bank of America Home Value Estimator

Bank of America’s estimator supports its clients by providing accurate home valuations, crucial for financial planning and decision-making regarding refinancing and home equity.

Now, Bank of America, a global banking and financial services giant, provides a range of services, including banking solutions, credit options, and various loan types. It also features tools aimed at assisting with home transactions, such as mortgage and closing cost calculators, alongside an automated valuation model (AVM) for estimating home values.

This online tool, accessible to anyone without needing an account, quickly delivers estimates for both listed and unlisted properties by evaluating details like size, condition, and market comparisons.

Similar to the Chase Home Value Estimator website, it doesn’t disclose the error rate, so you shouldn’t base any financial decision based solely on the tool.

Final Thoughts on the Best Home Value Estimator Websites of 2024

The best home value estimator websites of 2024 provide user-friendly, and comprehensive tools for assessing property values. However, keep in mind there is a margin of error here and it’s important to conduct due diligence and use multiple tools to get the best estimate. By leveraging these platforms, homeowners and investors can navigate the real estate market with confidence, armed with valuable insights and information.

FAQs on Home Value Estimates

What Are Home Value Estimator Websites?

Home value websites are online tools that provide an estimate of your home or property’s current value. They are often computer-generated, looking at different data points to come up with their estimates. They are often used by homeowners before they sell their house or refinance their mortgage. Buyers can also use them to see how much they may have to spend on a home. 

Home value websites are a quick and simple way to get current information about your property. However, these estimators only come up with approximations, not concrete or absolute values. You should always take these estimates with a grain of salt.

What Factors Influence the Estimated Value Provided by These Websites?

These platforms analyze a broad array of factors to generate their valuations. Understanding these factors can provide insights into how estimated values are determined and what influences them. Here’s a detailed breakdown:

1. Location

The adage “location, location, location” holds true in real estate valuation. The property’s geographical area significantly impacts its estimated value. This includes the broader region, city, and even the specific neighborhood. Factors such as proximity to amenities (schools, parks, shopping centers), employment opportunities, and scenic views can substantially affect a home’s desirability and, consequently, its value.

2. Size

The overall size of the property plays a crucial role in its valuation. This includes both the square footage of the living space and the lot size. Generally, larger homes and lots command higher prices in the market, though this can vary based on location and the efficient use of space.

3. Condition and Age

The state of the property significantly influences its value. Homes that are well-maintained, updated, and in good condition tend to be valued higher than those that require extensive repairs or renovations. The age of the property also factors into this, as newer homes might incorporate modern designs and amenities that appeal to buyers, though well-preserved older homes can also be highly valued for their character and craftsmanship.

4. Recent Sales of Similar Properties

Comparable sales, or “comps,” are a critical factor in real estate valuation. These are recent sales of similar properties in the same or similar neighborhoods. Estimator websites analyze comps to gauge market trends and prices, adjusting their estimates based on how similar properties have sold.

5. Market Conditions

The broader real estate market conditions influence home values. This includes current demand, supply levels, interest rates, and economic indicators. In a seller’s market, where demand outstrips supply, home values tend to rise. Conversely, in a buyer’s market, values may stagnate or decline.

6. Upgrades and Unique Features

Home improvements and unique features can significantly impact a property’s estimated value. Renovations that add living space, enhance functionality, or improve the home’s aesthetic appeal (such as kitchen remodels, bathroom updates, or the addition of energy-efficient systems) can increase its value. Unique features like swimming pools, outdoor living spaces, or smart home technology can also add value, though their impact can vary based on market preferences and trends.

7. Property-Specific Characteristics

Other specific characteristics of the property also play a role in its valuation. This includes the layout and design of the home, the quality of construction and materials, the presence of luxury amenities, and even the home’s energy efficiency. These details contribute to the overall desirability and functionality of the property, affecting its estimated market value.

By considering these factors, home value estimator websites strive to provide accurate and realistic valuations. However, it’s important to remember that these estimates are just that—estimates. They serve as a starting point for understanding a property’s value and should be complemented with professional appraisals and market analyses for precise valuation.

Can I use a home value estimate for official appraisals?

No, home value estimators cannot be used for official appraisals. They provide estimates for informational purposes only. For lending, insurance, or sales purposes, a professional appraisal conducted by a certified appraiser is required.

For formal financial transactions—such as securing a mortgage, refinancing, selling or buying a property, or obtaining insurance—an official appraisal is often a requirement. Lenders, for instance, rely on appraisals to determine the loan amount for a mortgage or refinance application. Similarly, insurance companies may require an appraisal to set coverage amounts.

In these contexts, the precision and authority of an official appraisal are paramount. The appraisal provides a legal document that serves as a critical basis for negotiations and agreements.

How home estimate websites can help you

When used appropriately, home estimate sites are still helpful. They can give you a general idea of your home’s worth, which is especially useful if it has greatly appreciated in value or if it’s been a long time since you purchased it. 

Many home estimators also provide information about local housing market trends. Some also offer projections about how your home’s value might change in the near future. These insights can help you understand the current housing landscape in your area and make it easier to jumpstart the process of buying, selling, or updating your home.

How often are home value estimates updated?

The frequency with which home value estimates are updated can significantly vary among different platforms, but a common practice is for these tools to undergo regular refreshes, often on a weekly basis. This method ensures that the valuations remain as accurate and relevant as possible by reflecting the latest shifts in market conditions, trends in real estate prices, and any recent transactions of comparable properties within the same area.

Should I trust the home value estimated by these tools?

While home value estimators provide a highly accessible and easy method for obtaining a rough valuation of a property, it’s crucial to approach these figures as preliminary estimates rather than absolute values. The accuracy of these tools can fluctuate based on the completeness and recency of the data they analyze. Additionally, they may not fully capture the unique attributes or the latest improvements of a specific property, which could influence its true market value.

What’s the difference between an appraisal and an online home value estimate?

The distinction between an appraisal and an online home value estimate lies in the depth of analysis and personalization. An appraisal is conducted by a certified professional who physically inspects the property, considering its unique features, condition, and the local market trends, resulting in a detailed and personalized valuation. In contrast, an online home value estimate offers a quick, automated calculation based on available public data and statistical models, serving as a convenient but less personalized assessment.

How do home value estimators use comparable sales (comps) in their calculations?

Home value estimators leverage comparable sales by meticulously analyzing transactions of properties similar in size, condition, and location to the subject property that have sold recently. This process involves comparing various attributes such as sale prices, property dimensions, and unique features to establish a baseline for valuation. By aggregating and analyzing this comparative data, the estimators can offer a well-informed estimate of what a property might be worth in the current market context.

How do home value estimators benefit home sellers and buyers?

Home value estimators have become an integral tool in the real estate market, offering significant benefits to both sellers and buyers by democratizing access to property value information. These digital tools serve as a strategic starting point in the property transaction process, facilitating more informed decisions and effective negotiations. Here’s a closer look at how these estimators are beneficial to both sides of a real estate transaction.

Benefits for Sellers

• Setting Realistic Expectations: For sellers, the journey begins with determining an appropriate listing price for their property. Home value estimators provide an initial estimate of the property’s worth, helping sellers set realistic expectations. This is crucial in avoiding the pitfalls of overpricing, which can lead to prolonged market presence, or underpricing, which can result in financial loss.
• Informed Pricing Strategy: Armed with an estimate, sellers can develop a more nuanced pricing strategy. By understanding where their property stands in the current market landscape, sellers can adjust their expectations and listing price to reflect market conditions, comparable property prices, and their own selling timelines.
• Enhancing Property Appeal: Estimators often offer insights into how certain features and upgrades impact a home’s value. Sellers can use this information to make targeted improvements that increase their property’s appeal and value, ensuring a better return on investment.
• Negotiation Leverage: With a solid grasp of their property’s estimated value, sellers are better positioned to negotiate with potential buyers. This knowledge equips them with the confidence to justify their asking price, backed by data-driven insights into the property’s worth.

Benefits for Buyers

• Market Value Assessment: Buyers can use home value estimators to get an approximation of a property’s market value, helping them identify deals that are priced reasonably or uncover opportunities where a property may be undervalued. This is particularly useful in competitive markets, where making quick, yet informed, decisions is key.
• Budget Planning: Understanding the potential cost of homes in desired neighborhoods helps buyers plan their budgets more effectively. Estimators provide a range of values that aid buyers in setting realistic expectations for what their money can buy, aligning their search with their financial capacity.
• Strategic Offer Preparation: Armed with knowledge about a home’s estimated value, buyers can craft offers that are competitive yet fair. This reduces the risk of overpaying while increasing the chances of their offer being accepted in a balanced or buyer’s market.
• Empowered Negotiations: For buyers, negotiations go beyond the purchase price. Knowledge of a home’s value can influence negotiations on repair credits, closing costs, and other concessions. Buyers can use the estimated value as a foundation for their negotiation strategy, advocating for terms that reflect the property’s condition and market standing.

What’s the difference between home value and a real estate comp?

Home Value

Home value refers to the estimated worth of a property or home in the current market environment. This value can be influenced by a myriad of factors, including the property’s location, size, condition, amenities, and the current real estate market conditions. Home values are dynamic and can fluctuate based on changes in the market, improvements to the property, and trends in the local area.

Determining home value is a complex process that can be approached in several ways:

• Professional Appraisal: A certified appraiser conducts an in-depth analysis of the property and its surroundings to provide an accurate value.
• Online Estimators: Algorithms analyze data from various sources to produce an estimated value.
• Real Estate Agent Analysis: Agents can provide value estimates based on their knowledge of the market and comparable sales.

Real Estate Comps (Comparable Sales)

Real estate comps are recently sold properties that are similar in terms of location, size, condition, and features. Comps are used to gauge the market value of a property by comparing it with others that have recently sold in the same area. Real estate professionals and appraisers look at comps to establish a fair price for a property, whether for listing, offering, or appraisal purposes.

Key aspects of real estate comps include:

• Similarity: Comps are selected based on their similarities to the property being evaluated. This can include physical characteristics like square footage, number of bedrooms and bathrooms, as well as location and amenities.
• Recency: Comps should represent the current market conditions, typically meaning they have sold within the last 3-6 months.
• Proximity: Ideally, comps are located within the same neighborhood or a similar area to ensure they reflect the same market dynamics.

Key Differences

• Purpose: Home value gives a broad estimate of what a property is worth in the market, while real estate comps are used to identify similar properties to make direct comparisons for valuation purposes.
• Methodology: The determination of home value can involve various methods, including professional appraisals and automated models. In contrast, comps involve analyzing specific sales data of comparable properties.
• Usage: Home value is often used for a general understanding of a property’s worth, for refinancing, or for property tax assessments. Comps, however, are primarily used in the buying and selling process to negotiate prices and to support or contest a property’s listed price.
• Dynamic vs. Static: Home value is a more dynamic concept that changes with market conditions, improvements, and other factors. Comps are static, representing specific transactions that occurred at a point in time.