Considering the rapid rise in property prices
how much is your property worth today?
In order to determine how much your home is currently worth, a number of factors come into play. Among the factors considered are your home’s square footage and age, as well as its location, construction quality, architectural features and number of bathrooms.
This Comparative Market Analysis will help to determine the correct selling price of your home.
Ultimately, the correct selling price is the highest possible price the market will bear. This market analysis is divided into three categories:
1. Comparable homes that are currently for sale
2. Comparable homes that were recently sold
3. Comparable homes that failed to sell Looking at similar homes that are currently offered for sale, we can assess the alternatives that a serious buyer has from which to choose.
We can also be sure that we are not under pricing your home. Looking at similar homes that were sold in the past few months, we can see a clear picture of how the market has valued homes that are comparable to yours. Banks and other lending institutions also analyze these sales to determine how much they can lend to qualified buyers. Looking at similar homes that failed to sell, we can avoid pricing at a level that would not attract buyers. This Comparative Market Analysis has been carefully prepared for you, analyzing homes similar to yours. The aim of this market analysis is to achieve the maximum selling price for your home, while being able to sell your home within a relatively short period of time.
Find out the market value of your home in Ottawa by entering your address above. Check your home’s value using our home valuation tool above, and see how much it is worth compared to nearby homes.
You can use the value of your home when buying, selling, refinancing or making improvements.
When setting a price for your property, the listing level must strike a balance between the seller’s need to achieve the best possible return and the buyer’s need to get good value. With many years of experience, a professional Real Estate Agent can help you set a price that will accomplish both objectives. Establishing market value The market value of your property is determined in exactly the same way as any other commodity – what a buyer is willing to pay for it in today’s market.
Despite the price you paid originally or the value of any improvements you may have made, the value is determined by market forces. Look at the competition Buyers look at about a dozen properties on average before making an offer on a property. As a result, they have a good overview of the market and will compare your property against the competition. If it’s not in line with similar properties that are available, buyers won’t consider it a good value for money.
No home estimate claims to be 100% accurate. Our estimation has an accuracy of about 80% in all areas. This is because there are no specific variances to throw it off. However, in some home value estimate cases (especially in older neighborhoods), the estimate may be less accurate.
Redfin Estimates are usually more accurate than Zillow Zestimates, but both tools have a fairly large margin of error. It’s important to know the exact value of your home whether you’re buying, selling, or refinancing .
Realtor-based estimated are more accurate as we use our human judgement in the process.
Overpricing your house in the belief that you can reduce the price back later is a strategy that can backfire badly. For example, by the time you reduce your price, you may miss out on a surge of interest in properties like yours.
If prices are lowered, buyers may wonder if there’s something wrong with the property that kept other buyers away. So to keep from selling your property at below market value and from wasting valuable time, don’t fall into the overpricing trap
It’ll take between 2 to 48 hours.
- Home type (condo, free hold, single family)
- How many bedrooms?
- What’s the square footage?
- What upgrades have you done?