According to one study of all homes recently sold, they were sold for 99% of what their asking price was.

Are you stuck on what you should list as your price though? Thankfully, there are a few ways to figure out what your home market value is.

This can be a good starting point to figure out how much to list for. Keep reading to figure out what it is and how to calculate it!

What Is Home Market Value?

If you’re wondering about selling my house quickly for cash, you might want to figure out what your home market value is first. This is sometimes also called the fair market value, and it’s the price your home could sell for when the market is normal.

In order to find that out, you’ll need an appraisal of your home to determine the worth. This can help give you an estimate of where to start.

To measure the fair value, you’ll have to take the worth and then figure out what it would be on the market. For example, your house may be worth $300,000. But if you live in a city that a lot of people are moving to, it could be valued at $375,000.

How to Determine It

There are a few different ways that you can figure out your home market value.

There isn’t one right way, but you can try these methods!

Use Online Tools

One of the first things you can use is online tools. There are plenty of them online, and you can easily plug in a few key points of information. Then the tool will tell you what the market value is.

You can find a few of them on Redfin or Zillow to start.

Run a Comparative Market Analysis

Another way to get a good estimate is to use a comparative market analysis on your property.

This will match your property with others that are similar, and it will tell you what other houses like yours are selling for. This can even take into account the renovations and neighborhoods to give you the best estimate!

Check Recent Sales

If you want to have an even closer number, check recent sales as well.

But you may also want to look up what other homes in your neighborhood have sold for and what their purchase price was. Do some research online and see what the average price of a home is in your state, city, and neighborhood!

You can also check to see how much houses are selling for per square footage.

Learn More About Home Market Value

These are only a few things to know about home market value, but there are many more things to keep in mind as well!

We know that selling your house can be a stressful and cumbersome process, but we’re here to help you out!

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