How much is my house worth?

Your home is worth what a willing buyer will pay for it in the current market. That's the market definition, and the only one that ultimately matters when you're ready to sell.

How market value is determined

Real estate agents determine value through a Comparative Market Analysis (CMA), an analysis of similar homes that have recently sold in your area. The agent looks at homes with comparable size, age, condition, features, and location, then adjusts for differences to arrive at a supportable value range.

Why online estimates aren't reliable

Zillow, Redfin, and other sites provide automated estimates that can be useful for a general ballpark, but they often have significant margins of error. They can't see inside your home, don't know about your recent renovations, and may use outdated or incomplete data. In rapidly changing markets, they lag behind reality.

What you should actually do

Ask a local real estate agent for a CMA. Most agents will do this at no charge, as part of a listing consultation. A good CMA will show you what similar homes have actually sold for, what's currently on the market, and where your home fits in that landscape.

Other factors that influence your home's value

Your home's condition, curb appeal, updates, and any unique features all play a role. So does timing. Market conditions fluctuate, and the same home can be worth different amounts at different times of year or in different market environments.