A home valuation is an estimate of your property’s current market value. It’s a snapshot of what buyers may be willing to pay for your home in today’s market. Unlike a full appraisal, which is conducted by a licensed professional, an online valuation gives you a quick starting point to understand where your home might stand.
Valuations are created by analyzing recent sales of similar homes in your area, reviewing details like size, age, and unique features of your property, and factoring in the current supply, demand, and seasonal shifts of the local market. Together, these elements form an estimate that reflects how your home fits into today’s marketplace.
An online home valuation is a helpful first step, but it’s not an exact science. Market conditions change quickly, and unique features of your home may not be fully captured by an algorithm. For a more precise value, pairing this estimate with a professional market analysis from a local real estate agent, like me, is best. Think of it as a baseline that guides you toward the bigger picture.
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