Curious About Your Home’s Value?

You’ve probably seen countless headlines about rising home prices over the years—but have you ever considered what that means for your own home?

Over the past five years, home prices have skyrocketed well beyond the typical growth rate. If you’ve been thinking about selling, this could translate into a much larger payday than you expected. So, just how much has your home’s value changed? Let’s dive in.

A Historic Spike in Home Prices

On average, home values tend to rise about 2-5% per year. But during 2021-2022, prices surged by double digits, with some areas experiencing increases of 20% or more. The reason? A severe imbalance between buyers and available homes drove prices to record highs. While the market has stabilized since, homeowners are still benefiting from those substantial gains.

That means your home has likely appreciated far more than usual—boosting your equity and overall wealth in a short period of time.

The map below, based on Federal Housing Finance Agency (FHFA) data, reveals just how dramatic this increase has been. Nationally, home prices have climbed nearly 60% in just five years. Here’s a state-by-state breakdown of the numbers.

If you’ve been hesitant to sell because of today’s home prices and interest rates, take a moment to consider this: the equity you’ve built could be enough to offset the affordability concerns and help you move into your next home.

And if you’ve owned your home for even longer? Your property’s value has likely soared even higher. Not only have you benefited from the massive gains of the past five years, but you’ve also stacked that on top of years of steady appreciation. A real estate agent can help you understand exactly how much your home is worth in today’s market.

How to Get an Accurate Home Value Estimate

Seeing percentage increases is helpful, but you probably want to know the actual dollar amount. The best way to get a precise valuation? Consult a local real estate agent.

While state-level data provides general trends, your home’s true worth depends on local market conditions. Is inventory still low in your area? That could be pushing prices even higher. Have you made upgrades or renovations? Those could add even more value.

A real estate agent has the market knowledge, access to the latest data, and expertise to give you the most accurate estimate—one tailored to your specific home and neighborhood. If you’re curious about what your home is worth today, let’s connect!

Bottom Line

Home values have been on the rise—possibly even more than you anticipated. If you’ve been wondering just how much your home is worth in today’s market, now is the perfect time to get a professional opinion. A real estate agent can provide you with a detailed analysis, factoring in local trends, recent sales, and any upgrades you’ve made. Don’t rely on broad estimates—get the real numbers and see how much equity you’ve built. Connect with an agent today to uncover your home’s true value and explore what your next move could look like!