If you’re a homeowner considering selling your house soon, one of the first things you’ll want to know is how much your home is currently worth so you can estimate your home value. Knowing the approximate value can help you set a competitive listing price and understand how much equity you have accrued. As you prepare to sell your property and reap the rewards of homeownership, here are some tips for estimating your home’s value.

Key Takeaways:

• Check recent sales of comparable homes in your area, adjusting for differences, to estimate value based on the local market.
• Hire an appraiser for an expert assessment, or consult online estimates and the IRVM calculator for free ballpark figures when pricing your home.
• Talk to real estate agents to leverage their market know-how and access to sales data in order to determine an optimal listing price to sell your house.

Check Recent Nearby Sales

One of the best ways to gauge real estate values in your area is to see what similar homes have sold for recently. Look for sales within the last six months that are comparable to your home in location, size, age, and condition. No two homes are exactly alike, but you can get a ballpark figure by analyzing sales of homes with similarities to your own. Adjust up or down based on differences. 

Get an Appraisal

For the most accurate estimate of your home’s market value, contact a professional appraiser. An appraiser will conduct an objective analysis accounting for all attributes of both the property itself as well as recent sales activity in the local market. Though appraisals cost money, they yield expert assessment of what price your house can realistically command. Lenders require appraisals for financing too.

Run an Online Estimate 

Many websites like Zillow and Redfin offer free automated home value estimates based on their extensive property databases. While online estimates lack appraisals’ accuracy and nuance, they can serve as useful starting points for pricing your home to sell. Run estimates on multiple sites to check consistency. Remember these are just algorithmic guesses, not substitutes for appraisals.

Try the IRVM Calculator

For do-it-yourselfers, another option is using the Interior Remodeling Value Marker (IRVM) calculator to tally the value of your home’s features. By quantifying each element like bedroom count, bathrooms, square footage, condition, upgrades, etc., you can compute a reasonable market value target. Adjust for intangibles an appraiser would incorporate.

Consult a Real Estate Agent

Licensed real estate agents make a living estimating home values, so they offer professional opinions on pricing. Agents also have specialized access to sales data as well as insider familiarity with buyer demand, pricing trends, and what’s recently sold or currently on the market in your area. Many will provide a comparative market analysis for free to earn your business. 

Estimate Your Home Value Final Thoughts

By exploring these different avenues for calculating your home’s present-day value, you should be able to pinpoint a defensible asking price as you get set to sell. Just be sure to gather multiple estimates, understand their limitations, and account for special features that could make your property more desirable. With smart analysis and thoughtful preparation, you can expect to sell your house within a reasonable timeframe at maximum value.

Who is the Top Realtor in Colorado To Determine How Much Your House Is Worth?

Jin and David Wick and their team at Your Home Sold Guaranteed Realty - The Wick Group are the top realtors in Colorado for a reason. With over ten years of experience in real estate, we have what it takes to get your house sold faster and for more money than other realtors

Our clients love working with us because of our customer-first approach, which focuses on delivering a hassle-free house-selling experience. In addition, we offer several unique house seller guarantees, like our Guaranteed Sale Program.

Jin has been involved in real estate since 2005, when she began working as a real estate investor. This inspired her passion for real estate and ultimately led her to get her real estate license in 2010. 

Throughout her career, Jin has been known for her excellent negotiation skills, professionalism, and friendly personality. In 2018, she won the REMAX Platinum Award. And the following year, she entered REMAX’s 100% Club after earning $100,000 to $249,999 in gross commissions.

In 2022, Jin was invited to the Peak Producers of Colorado Springs. It wasn’t long after that that she decided to start her own real estate brokerage with her partner, David. After 26 years in the U.S. Air Force, David has developed a unique understanding of the challenges veterans and military members face when buying or selling homes.

If you want more information about the real estate services our team offers, give Jin and David Wick a call at (719) 259-0316. You can also visit our website for more information or simply fill out the form on this page.

To Discuss Your Home Sale or Purchase, Call or Text Today and Start Packing!