How does this tool work?

This home valuation tool uses recent home sale data provided by public records to estimate the value of a home. The public record data is provided by counties across the US and other munincipalities, as well as tax records, and includes information such as bedrooms, baths, last date sold, amount of sale, square feet, etc. Not every county provides data, and data is incomplete for many locales, but usually enough data is available to provide an estimate.
The home valuation tool uses the address you provide to look up the property information, and if found, it then looks for nearby properties. It will use properties with characteristics similar to the subject property ("Comparable Sales") to determine a value range for the estimate. These "Comparable Sales" properties are listed in the tool, and shown on the map. It will also list "Nearby Sales", which are sales that are near the subject property but which are not similar enough to be used for the valuation estimate.
Since the valuation estimate provided is based only on the data available, it is not necessarily an accurate assessment of the true value of the property. If you need a more accurate assessment, you should consult a local real estate professional.

How accurate is this estimate?

The accuracy of this estimate depends on the public data available, and how closely the characteristics of the subject property match the assumptions made in the valuation tool. The estimate cannot take into account the unique characteristics of each property, it's condition, and other factors such as nearby community features that may raise or lower the value of the property. It can only take general conditions and assumptions based on the available data.
As such, the estimate provided may or may not be accurate. The more unique the property or surrounding community, the more likely it is that the model will not be able to make an accurate estimate.

How can I get a more accurate estimate?

Because each property and community is unique, and because the real estate market may vary and be changing differently in each area, the best alternative to an online estimate such as this tool is to consult a local professional. If you need an accurate valuation of a property for purposes of a sale, refinance, or other such transaction, it is important that you consult a local real estate professional.
One alternative is to consult a local real estate agent or REALTOR®. You can find one here.

Is this a Comparative Market Assessment (CMA)?

No, the home value estimate provided here is not a Comparative Market Assessment (CMA). A CMA is typically a custom service provided by a local real estate professional who does a detailed assessment of your home and current market conditions. This tool uses public record data and a set of assumptions to provide a general estimate.

Is this an appraisal?

No, the home value estimate provided here is not an appraisal. An appraisal a service provided by a real estate professional who is qualified to perform an appraisal of the value of your home.

Why was my property not found?

This tool uses public record data and other sources to locate and get characteristics for the subject property. If public record data is not available for the property, or if the address cannot be located based on the data available, the valuation estimate cannot be provided.
Public record data is not available in "non disclosure" states such as Texas and Utah, and many counties do not provide this data. Where possible, alternative data such as tax assessment data or other alternative sources are used.
Your property may also not be found due to differences in address modifiers such as "ave", "st", "NE", "route", etc. In many areas this information is inconsistently or inaccurately recorded, which can cause us to not find the property. You might try leaving these modifiers off the address, change them, or add them.

What are Comparable Sales?

"Comparable Sales" are properties that have sold recently in the area of the subject property, and that have characteristics that appear similar to the subject property. Comparable Sales are used to provide the valuation estimate. Comparable Sales are selected primarily based on the available public record data, and thus may or may not be actually similar to the subject property.

What are Nearby Sales?

"Nearby Sales" are properties that have sold recently in the area of the subject property. These may or may not have characteristics similar to the subject property, and are thus not used to provide the valuation estimate. They are listed by this tool to help you get a feel for what homes have sold in the area.

Why don't I see some homes that I know have sold recently?

This tool depends on data collected from public records. Counties and other jurisdictions typically take several weeks or even months to record a sale, and it takes time to collect and compile the data. In some areas, recording or collection of data is done manually, and can thus take six or more months.

How can I see details for each property on the map?

You can click on an icon on the map to see the details for that property. It will show up in a "balloon" window on the map. If clicking on the icon does not work, try closing an existing balloon window first.
You can also click on the icons in the Comparable Sales and Nearby Sales lists to see the property details, or by clicking the "more" link for the property.