Whether you’re thinking about selling, refinancing, or just curious about your investment, knowing your home’s value is essential. But calculating your home’s worth isn’t as simple as plugging numbers into a website. It involves a mix of data, market trends, and expert insight.]

Here’s how to get an accurate estimate—and why it matters.

Why Your Home’s Value Matters

Your home's value affects:

  • How much you can sell it for

  • Refinancing opportunities

  • Property taxes

  • Equity and borrowing power

Accurately calculating your home's worth helps you make smarter financial decisions, whether you're staying put or getting ready to move.

1. Use Online Home Value Estimators (But with Caution)

Tools like Zillow’s Zestimate or Redfin’s Estimate can give you a quick snapshot of your home’s worth. These platforms use automated valuation models (AVMs), pulling data from public records and recent sales.

Keep in mind: These are just ballpark figures and may not consider your home’s condition, upgrades, or local demand.

2. Compare Recent Sales (Comps)

One of the best ways to estimate your home’s value is by analyzing comparable properties (known as “comps”) that recently sold in your area. Look for homes with:

  • Similar size and layout

  • Same number of bedrooms and bathrooms

  • Similar condition and features

  • Sold within the last 3–6 months

A local real estate agent can help you gather the most accurate and up-to-date comp data.

3. Consider Home Improvements

Have you remodeled the kitchen, added a deck, or replaced the roof? Upgrades and renovations can significantly increase your home’s value. Keep receipts and documentation to justify the added worth.

4. Factor in Market Conditions

Your home’s value is also tied to the broader real estate market. In a seller’s market, your home may be worth more due to high demand and low inventory. In a buyer’s market, the opposite is true.

Stay informed on:

  • Local inventory levels

  • Mortgage interest rates

  • Neighborhood development

5. Schedule a Professional Appraisal or CMA

For the most accurate number, you’ll want to consult a professional:

  • Appraisal: Performed by a licensed appraiser—often required for refinancing.

  • Comparative Market Analysis (CMA): Offered by real estate agents to estimate your home’s worth based on local market trends.

A CMA is usually free and a great starting point if you're planning to sell soon.

Don’t Forget Property Taxes

Your assessed home value can impact how much you owe in property taxes. While the assessed value isn’t the same as the market value, it's still important to monitor and challenge if it seems inaccurate.

Calculating your home’s worth is about more than numbers—it’s about context, timing, and local expertise. Online tools are a helpful starting point, but working with a real estate professional gives you a more complete picture.

Matt Witte strives to be the best realtor in Andover MA.

Any questions about real estate, reach out to Matt Witte Andover Realtor MA