Chris  Schmidt
Chris Schmidt
Owner/Broker

How Do You Calculate Your Houston Home’s Value?

Wondering how to calculate your Houston home’s value? Whether you’re a homeowner or prospective home seller, there are several methods you can use to estimate the market value of your home.

In this post, Chris Schmidt and our Houston real estate experts at Your Home Sold Guaranteed Realty - Chris Schmidt Team will discuss five ways to calculate home value.

Key Takeaways:

  • Working with a professional realtor who specializes in the local market is the most common and effective way to calculate your home value. 
  • Some real estate associations and government agencies create home price index reports that track the value trends of homes in certain areas
  • Online tools are another common way to find valuation, but they’re best used only if you need a rough estimate of your home’s value.

How Do You Calculate Your Houston Home’s Value?

Realtor

Working with a professional realtor who specializes in the local market is the most common and effective way to calculate your home value. Realtors use a strategy called comparative market analysis which allows them to accurately determine your home’s value under the current housing market trends. 

With this method, the realtor analyzes recent sales of similar properties in the area in terms of size, location, age, condition, and features. Based on that information, they’ll figure out the value of your property.

A comparative market analysis can only be done with a realtor, since they have access to exclusive databases and up-to-date market information.

Online Tools

Online tools are another common way to find valuation, but they’re best used only if you need a rough estimate of your home’s value. For example, if you’re in the early stages of planning your sale or are just curious about your home’s value.

Platforms like Zillow, Redfin, and Realtor.com offer automated valuation tools that can give you an idea of your home’s worth. They use an algorithm-based method that analyzes public records, recent sales data, and statistical models. 

However, they can’t account for the unique features of your home or the impact of off-market properties on home prices. In addition, they may not have access to the same up-to-date market information as realtors do.

Licensed Appraiser

Hiring a licensed appraiser gives you the most accurate valuation of your home. Appraisals are usually ordered by home buyers as part of the loan approval process. However, anyone can order an appraisal on their home at any time. 

An appraiser will conduct a detailed inspection of the property, analyze comparable sales data, and consider various factors to provide an unbiased appraisal report.

Home Price Index Reports

Some real estate associations and government agencies create home price index reports that track the value trends of homes in certain areas. You can check these reports to get an idea of the broad pricing trends in your area. However, for more specific information on your property, you’ll need to contact a professional. 

Price per Square Foot

Research some homes that recently sold in your area. For each home, divide the final sale price by the square footage to get the price per square foot. Then, multiply the average price per square foot by the square footage of your own home for a rough estimate of its value. 

Chris Schmidt Can Find the Market Value of Your Houston Home Easily

Your Home Sold Guaranteed Realty - Chris Schmidt Team. How Do You Calculate Your Houston Home’s Value?
Chris Schmidt

If you’re looking to sell, consulting with a local real estate agent is the best way to find your home’s value. At Your Home Sold Guaranteed Realty - Chris Schmidt Team Chris Schmidt and our team have years of experience working in the Houston metropolitan area. 

Our familiarity with the local market trends, as well as our legendary customer service, are why we’ve developed a reputation as the best realtor in Houston. We can easily help you determine the market value of a home in Houston, whether you’re selling or are a current homeowner.

To learn more about working with our team, give us a call at 713-322-5604. You can also fill out the form on this page or send a message to [javascript protected email address].

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