Estimating Denver Home Values
Denver home values are on the rise. Over the past couple of years buyers have been very competitively going after properties on the market and prices have gone up accordingly throughout the metro area.
If you’ve been in the same home for years and haven’t checked on its value in a while, you could be in for a nice surprise. The market conditions, along with low interest rates, make this a good time to sell.
Whether you’re about to list your home or you’re simply curious about what it would be worth on the market, here is a process you can follow to accurately gauge its value.
Art and Science
Starting with objective research of recent sales of similar properties is a great place to start. That will give you the best idea about market value. To gauge the ideal sale price, it also helps to have a gut-level understanding of the Denver housing market.
Think of it this way: “market value” is what your home would be worth irrespective of any special circumstances, but “sale price” is the actual number you need to land on to make as money as possible within any special time or market constraints. The best way to balance the art and science of picking a home sale price is to use the Neir Team’s free market analysis search.
If you want to estimate the value of your home yourself, you need to look deeper into sales of similar properties. First, let’s define what could make a property similar to yours. It must have comparable:
- Lot size
- Square footage
- Number of rooms...