Making the decision to sell your house is a big step, and the first question many homeowners have is “What is my house worth?” Determining your home’s accurate market value is one of the most important early steps when putting your property on the market. While online home valuation calculators can provide a ballpark estimate, getting a professional appraisal from an experienced local realtor is key to pricing your home correctly.
Knowing your home’s true value allows you to set a competitive asking price, which increases the chances of selling your property quickly and for top dollar. Read on to learn about the different factors that determine how much your house is worth and how to get the most accurate estimate.
How Home Value is Determined
Estimating home value takes into consideration both the specifics of your property as well as broader housing market conditions. Some key factors that impact what a house is worth include:
- Location – The neighbourhood, school district, commute distance to jobs centers, and amenities affect desirability and prices.
- Size and layout – Total square footage, number of bedrooms/bathrooms, floor plan functionality and flow impact value.
- Condition – Upgrades, maintenance, and overall curb appeal play a role in home worth.
- Comparable sales – Prices of similar homes recently sold in the area indicate the market value range.
- Supply and demand – When demand is high and supply low, prices tend to rise in a seller’s market.
Getting an Accurate Home Valuation
While online calculators like HouseSigma can provide ballpark home values, they often lack localized data that gives an accurate price for your specific property. A comparative market analysis from an experienced local real estate professional is key.
“What is my house worth?” is best answered by a realtor active in your city and neighbourhood who will compare your home to recently sold comparable properties. They will schedule a walkthrough of your house, research closed sales of similar homes, and factor in current market conditions to arrive at an accurate home value estimate.
The result is a comprehensive and customized home valuation you can use to competitively price your property. This “CMA” gives you an edge whether you sell on your own or list with an agent.
Why an Accurate Home Value Matters
Knowing what your house is worth before listing has several advantages whether you sell your house on your own or use a realtor:
- Set the right asking price – Price too high and your home sits, too low leaves money on the table.
- Assess listing agent promises – Verify agent estimated home values by comparing to your CMA.
- Price it competitively – Optimal pricing brings more buyer traffic and offers.
- Prepare for appraisals – Lenders require appraisals, so know your valuation upfront.
- Assess offer strength – Compare bid prices to your CMA home value to gauge offer strength.
- Negotiate effectively – Know where you can flex on price based on actual worth.
Without a clear picture of your home’s current value, you run the risk of overpricing, losing buyers, or selling for less than it’s worth. Knowing your home’s true market value provides confidence to list, assess offers, and negotiate effectively.
Next Steps to Sell Your House
Now that you know why determining your home’s accurate market value is so important before listing, you’re ready for these next steps:
- Consult local real estate professionals – Ask realtors for a comparative market analysis to establish your home’s value.
- Research neighbourhood sales – Look at comparable homes recently sold nearby to gauge price ranges.
- Get pre-listed for repairs – If repairs are needed, get estimates to maximize listing price.
- Consider timing – Real estate markets shift throughout the year, so time listing wisely.
- Prepare your property – Declutter, clean and make minor upgrades to maximize perceived value.
The bottom line is that knowing your home’s true market value sets you up for success from listing to closing. Accurately researching what your house is worth before you list it for sale will pay dividends in the long run.
Can a Realtor Find My House Value?
Throughout the home selling process, a realtor is always helpful. Your realtor can make sure you know your options and can achieve your real estate goals in . Our team at Your Home Sold Guaranteed Realty Elite - The Augustine Team will use our skills, experience, and knowledge of the local market to ensure you sell your home quickly and for top dollar. Our team also uses the strongest marketing strategies so that you can rest assured that your home sells as fast as possible.
When you are ready to put your home on the market and begin your home selling journey, give our team a call at (289) 235-8000 or fill out the form on this page with the requested information to get a detailed response from our realtors. We will be happy to answer any questions and address all of your concerns to make sure you are comfortable and confident in your decisions throughout the process.
We look forward to hearing from you and helping you begin your real estate journey!
Get a Free Home Valuation: As part of our Sell Now process, we provide a free home valuation. Does your home need some minor repairs to increase the value? Check out our Get Your Home Ready offer. You can choose to receive up to 1% of your listing price up front prior to listing to cover any home upgrades required to maximize your sale.