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It varies the rules in area to area, but normally it is zip code but i have heard of them using school district as well. Banks normally want more current then 1 year, but again it depends on the situation. Some can use stuff that are in contract or even on the market if neccesary.
But for the most part appraisers lack information that some real estate agents have, which is the current transactions, and only have the recorded sales. So it is hard to let you know the true value of your home. You can try to get several CMA from different real estate agents, or go to a website like housevalues. But since most real estate agents do not want to do your homework, they will by nature be more vague.
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