Have you been asking yourself, “What’s my home worth right now?” you’re not alone. Whether you’re thinking of selling soon or just curious, understanding your property’s current value is a smart move. But how do real estate agents figure that number out? Let’s break it down.
1. We Start With a Comparative Market Analysis (CMA)
A CMA looks at similar homes in your area that have recently sold, are currently listed, or were taken off the market. We compare your home to properties with similar size, layout, location, and features to get a sense of what buyers are willing to pay right now.
2. Market Conditions Matter
The real estate market is always changing.
Are we in a buyer’s market? A seller’s market? Is inventory low? Are interest rates high? All of these factors influence pricing. For example, if homes in your neighbourhood are selling quickly and above asking, that tells us the demand is high and your home may be worth more than you think.
3. We Adjust for Upgrades and Features
Not all homes are created equal.
Do you have a finished basement? A recently renovated kitchen? An extra bathroom? We make specific adjustments for things that add value and also consider any areas that might need work.
Even small details like a newer roof, updated windows, or professional landscaping can impact the final estimate.
4. We Consider the Numbers, and the Story
Pricing isn’t just about math, it’s about knowing the story behind your home and how it fits into today’s market. That’s where local expertise comes in.
We combine data, current trends, and on-the-ground knowledge to give you a clear and realistic picture of your home’s market value.
Want to Know What Your Home is Worth?
If you're curious about what your property could sell for, let’s chat!
We’d be happy to help!