How to Find Property Value by Address

Property values are one of the most important factors in real estate. Property values can guide your actions if you are ready to enter the real estate market or are still deciding whether you want to buy, sell, refinance, or invest. 

Market values are also a foundational metric that reflects different markets and will fluctuate between neighborhoods. They are also constantly changing based on development, macroeconomic trends, and the individual projects of homeowners. 

As you start your real estate journey, property value by address can give you more information about the homes around you and guide your decision-making process. Use this guide to explore different tools and compare their results. Be more informed about the potential value of a house, condo, or parcel of land.

Best Tools to Find Property Value by Address

Several tools can provide estimates for market values in your area. You don’t want to choose a site that hyperinflates your property value and makes you think a house is worth more than it is. Conversely, some tools might provide conservative estimates that make you think some properties are more affordable than they actually are. 

Here are a few useful sites that can help you find property values by address so you can explore different neighborhoods in your area.

Zillow

Zillow is the most popular real estate website in the United States. It gets more than 57 million visits each month, beating out Realtor.com which only has 30 million. All other real estate sites, as of fall 2024, have fewer than 10 million visits per month. 

Zillow is known for its Zestimtae tool, which provides an estimate of a property’s current value. Researchers have found that Zestimates have a median error rate of 2.4 percent for on-market properties and 7.4 percent for off-market ones. This is an incredibly tight margin of error that proves the value of using Zillow as a tool to research home values.

Zillow uses a mixture of public data, user-submitted data, and proprietary algorithms to calculate its estimates. It reviews market trends and comparable properties to reach its conclusions. 

Zillow is popular because it is easy to use. People who aren’t familiar with the real estate market can still utilize the various features and tools that Zillow offers. It also provides a variety of additional real estate services that can support some buyers or investors.

Redfin

Redfin is currently the fourth-largest real estate website. You can search for homes on its pages and explore specific neighborhoods that you are interested in. Redfin pulls data from the multiple listing service (MLS), which means the home values for active properties should be accurate. It may be harder to find estimates for off-market properties on Redfin’s pages. 

Redfin has an easy interface to navigate, but its main goal isn’t to encourage browsing. This is where it differs from Zillow. Redfin is trying to lead the luxury real estate market and wants to attract buyers, sellers, and investors in high-end properties. Site visitors may find that they are being pushed to work with a Redfin real estate agent even if they are still in the consideration phase. 

Use Redfin as a useful tool and know that you don’t have to work with one of its recommended agents to enter the real estate market.

Realtor.com

Realtor.com is the second-largest real estate website and one of the most-used apps behind Zillow. This website is successful because it pulls home values from multiple sources of data. This allows the algorithm to come up with accurate estimates, even for properties that aren’t currently active on the market. 

Like the other apps and websites mentioned so far, Realtor.com allows users to connect with real estate pros and start their buying or selling journeys. You can also request showings of specific properties you might be interested in.

Trulia

Trulia is a value website for reviewing home values, but it can also provide deeper insights into specific neighborhoods. This information can be essential for buyers who are exploring new towns or cities for the first time. You can learn about schools, entertainment opportunities, and other factors that contribute to the quality of life in an area. You can even see ratings like how pet-friendly certain areas are and whether your neighbors are likely to set up holiday decorations. 

The specific value of a house is important when starting a real estate transaction; however, these intangibles can increase perceived value as well. They can also provide context. If a specific neighborhood has significantly higher home prices than similar houses nearby, there could be a good reason why. That neighborhood could be part of a different school district or provide access to hiking trails and a dog park that the other areas don’t have.

Trulia highlights the value of using multiple sites to estimate home values. You can gain deeper context into the meaning behind certain numbers. 

CoreLogic

So far, the home value tools on this list have focused on apps and websites designed for homeowners and buyers. However, you can also use a home value estimator tool that was made for real estate professionals. CoreLogic was built for Realtors and lenders who want to track local market conditions. Your agent might already use this app and can show you the estimated value of specific properties.  

CoreLogic provides highly accurate, detailed reports, and professional-grade insights. It is an excellent way to review specific real estate markets. The main drawback is that it can be hard for the average person to use. You may need your agent to guide you through different metrics that were used to create your home value estimate. This app also isn’t free, which is another reason why you would want to use your agent’s account to review data insights.

Chase Home Value Estimator Tool

You can also look into your local banks and credit unions to better understand local market conditions. The Home Value Estimator by Chase Bank makes it easy to look up specific addresses to understand the property’s value. This tool is designed to support buyers who need to secure mortgages and owners who want to refinance.  

Not only is this tool free to use and designed to be easy for the average person to figure out, but it also provides financial insights that you might not get from real estate websites. This is because the data is coming from the bank’s perspective, rather than from the point of view of real estate experts. 

This tool can also put you in touch with potential lenders who can guide you through the buying and refinancing processes.

Bank of America Instant Home Value Estimate

Bank of America also has a tool that provides an instant home value estimate. Along with supporting buyers who are considering their mortgage needs and homeowners who want to refinance, Bank of America also uses this tool to help homeowners who want a home equity line of credit (HELOC). 

Bank of America is clear that these estimates do not directly reflect the value of your home and do not count as formal appraisals. These metrics are designed to be estimates during your research process. They can help you learn about market value trends and research particular property values. Your Realtor or hired appraiser can tell you exactly what a home is worth and explain why in greater detail. 

Factors That Influence Property Value Estimates

Using online tools can help you identify the market value of your home, but it’s important to remember that these numbers and purely estimates. They are also constantly changing because of the improvements you make to your house and because of macroeconomic factors.

Zillow can’t see that you just updated your bathroom or if your carpet is dated, which means its estimates aren’t entirely accurate. Here are a few factors that change the current value of your home.

Location

One of the biggest drivers of home valuation is the location. Values will change based on city and state, along with the specific location of individual homes. For example, a house that is close to a train stop might have a higher value because of the perceived ease of commuting. Houses on the water also often have higher values because of the easy boat or beach access. 

Homeowners can change everything about a property except its location. This is why most agents start with the location of the property when trying to estimate a home’s worth.

Property size

Property size can also affect home values, with large houses usually having higher sale prices. Your agent will ask about your square footage, along with the number of bedrooms and bathrooms in the home. They might also inquire about any bonus features, like home offices, gaming rooms, or large laundry areas. 

Other factors that contribute to house worth are the lot size and the house-to-lot ratio. Some buyers are willing to pay more for bigger yards. A large house might not leave much room for yard space, potentially affecting perceived values. Ask your agent about this if you have an unusual lot or view your lot as an asset.

Condition

The condition of a property plays a significant role in market value. Two of the exact same houses built right next to each other could have different values if one has been well-maintained and the other is showing signs of wear. Your agent should put together a detailed report of all the updates you made to your house when estimating its true value. Potential buyers will also consider the condition of the home when evaluating whether it is fairly priced.

Recent Sales

Home values change constantly based on similar listings and sales in the area. If demand for housing is high in your area, home prices might rise as buyers make at-listing offers or enter bidding wars. If the regional market is cooling, then home prices around you might drop, affecting your own values. 

This is why buyers should look at the prices of similar homes before they start their search. This will give them an idea of how much they should budget for when looking for properties in specific neighborhoods.

Age

Historically, the age of the home has played a significant role in its price. Buyers often preferred new homes because they didn’t need any repairs or upgrades. However, studies show that older homes are selling for just as much as newer ones – if not more in some areas. This could be because of location-based factors or due to the charm and design of older builds. 

Ask your agent if they are seeing trends related to a home’s age and pricing. Even if your home is older, it might sell for a higher amount if it doesn’t feel dated inside. Buyer perceptions are everything.

Market trends

While the recent sales in your area play an important role in home values, so do other market trends. For example, changes in interest rates – or even perceived upcoming changes – can affect home values. Local changes, like the opening of a new school, changes in transit opportunities, and even cultural shits in your area can also affect prices. 

This is why Realtors need to be careful when running CMAs. If they pull houses for their analysis from differing neighborhoods, other trends could affect those values. You could end up with a mispriced home that changes how quickly it sells or how much you get for it. 

Why Work with a Real Estate Agent to Find Accurate Market Value

All of the tools on this list can provide free home estimates to use in the research process. However, it’s still important to work with a real estate professional once you are ready to buy or sell. Here are a few reasons why a Realtor can provide a more accurate estimate of your home’s value beyond any websites. 

• Expertise and Local Market Knowledge: They can provide context as to why home values fluctuate within neighborhoods and even city blocks. 
• Access to Comprehensive Data: Real estate agents have access to more in-depth tools and insights that can make you more informed. 
• Personalized Comparative Market Analysis (CMA): The agent you work with can provide a CMA specific to your home based on any improvements you made or quality of life benefits that come with living there. 
• Professional Appraisals and Inspections: When the time comes, your Realtor can help you move forward with scheduling these important appointments
• Negotiation Skills: The assessed value is only the starting point. Your agent might be able to help you negotiate a better price. 
• Guidance and Support: You don’t have to be a real estate expert when you hire a professional to help you. Let your Realtor make your path clearer. 

Enter your property address into these tools to get your assessed value and then see how different the numbers are from your broker price opinions. If one Realtor’s estimate is wildly different, ask why. This could mean they are over or undervaluing certain properties.

However, that agent might also have a good reason for how they got that estimate. Using multiple resources can help you get the most accurate idea of what your home is worth or the home values of certain neighborhoods.

Use Online Tools to Research Local Market Conditions

Researching a property’s market value can help you learn more about specific homes and neighborhoods in general. If you are preparing to sell, these tools (along with a comparative market analysis) can give you an idea of what your home is worth. If you want to buy, these apps can guide you to popular neighborhoods or hidden gems. Even homeowners who want to refinance can get a clearer picture of their options with the help of an online tool. 

Along with exploring the apps above, reach out to a local real estate agent to discuss your options. This is a useful starting point to talk through your plans and get an idea of your home’s market price. They can ask about any home improvements you have made that might affect the listings and adjust various data points in their calculations to get accurate value estimates. While online tools can be helpful, human agents will always provide the best results. 

To find a Realtor you can trust, turn to FastExpert. Review the profiles of different real estate agents who specialize in your area and contact the best ones. They can give you an accurate valuation for your home and explain exactly how they got that number. Buyers can also meet with Realtors through FastExpert to discuss their purchasing plans. Try FastExpert today and enter the real estate market with confidence.