If you’re thinking about selling your house, one of the first questions you probably have is, “How much is my home worth?” That’s a great question—and an important one. But the answer isn’t always simple. Home prices go up and down for different reasons. Let’s talk about what affects your home’s value and how you can find out what it might sell for today.
Why Home Values Change
Your home’s value isn’t set in stone. It changes based on what’s happening around you. Here are a few things that can make your home worth more or less:
1. Neighborhood Growth
If new stores, schools, parks, or businesses pop up in your area, that’s usually a good thing! It means more people might want to live nearby, which can drive up home prices. When there’s more demand for homes in your neighborhood, your home becomes more valuable.
2. Job Market Changes
If a big company opens a new office near you, it might bring lots of new jobs—and new buyers who need places to live. That can raise home values. But if businesses close and people move away to find work, fewer people are looking to buy, and prices may drop.
3. The Economy
When the economy is strong, people feel more confident about buying homes. But if there’s a recession, when jobs are lost and money is tight, fewer people buy homes. That can cause prices to fall, even if your house hasn’t changed.
What About Recent Home Sales?
One of the best ways to find out what your home is worth is to look at what other homes like yours have sold for nearby. These are called “comps” (short for “comparables”).
Real estate agents look at homes similar to yours in size, age, location, and condition. If a house like yours sold for $250,000 last month, that helps us estimate what yours might sell for today.
But it’s not just about the number. We look at how long those homes stayed on the market, how many offers they got, and whether the seller had to drop the price. That helps us get a clearer picture.
Why Online Estimates Aren’t Always Right
You might have seen online tools that give a home value estimate. Those can be helpful, but they don’t always know about updates you’ve made to your home, or changes happening in your neighborhood. That’s why working with a real estate agent who knows your area is so helpful.
Want a Free Home Value Estimate?
If you’re curious about what your home might sell for in today’s market, I’d be happy to help. I’ll look at recent sales in your neighborhood, check local trends, and give you a realistic estimate—no pressure, just honest advice.
Let’s find out what your home is worth. It might be more than you think!
Contact Me or Call 740-326-6060:
Wendy L. Richmond, real estate sales
Berkshire Hathaway | Calhoon Company Realtors
