You may have noticed homes selling rapidly and at sky-high prices and wondered, “How much can I sell my house for in this market?”
Honestly, it’s going to depend on a number of factors, including:
- Age of the house
- How well you’ve maintained your home
- Location of the house
- How “hot” your market is
- How many listings your area has
The most accurate price you’ll get is from a real estate agent in your area.
However, you can get a ballpark figure beforehand by taking a look in a few spots we’ll highlight next.
Start with the FHFA’s price index calculator
The Federal Housing Financing Agency’s house price index calculator doesn’t project the actual value of any particular house. Instead, it projects what a given house purchased at a point in the time would be worth today if it appreciated at the average appreciation rate of all homes in the area.
The FHFA also warns that it isn’t “seasonally adjusted.” There tends to be a higher demand for homes in warmer months, so prices raise as a result. What they’re saying is that this tool doesn’t account for that.
However, this is a good place to start and adjust the number according to further research.
How much are other homes selling for in your area?
When deciding how much to sell your house for, compare it to similar homes that are already listed for sale in your area.
Try to find ones extremely similar to yours:
- Roughly the same lot size
- Around the same square footage
- Same number of bedrooms and bathrooms
You also need to consider the condition of your home in comparison to the ones you’re using to price yours.
Have they kept their home updated more than you have? If so, you’ll need to price your home a little cheaper to remain competitive on the market.
Be sure to use multiple sites to do this because prices on the same house can differ from site to site.
Contact a real estate agent
Like we said earlier, the most accurate way to find out how much you can sell your house for is by working with a real estate agent in your area.
They’re actively selling homes in the current market, in your area, and will be able to price your home competitively so it sells faster.
If you live in Bolivar or neighboring communities, some agents at Partin Real Estate have been selling houses in the Ozarks for over 30 years.
If you want to know how much you can sell your house for, we’re the best place to ask. We’ll get your home priced competitively and sold as stress-free as possible.