It’s the first question almost every homeowner asks me: “What’s my house worth?” And it’s usually followed by, “The website says…” Online estimates are a fine place to start a conversation, but they’re a risky place to start a sale. Here’s why, and what actually determines your home’s value.
Why online estimates miss
- They’ve never been inside. A computer can’t see your renovated kitchen, the new roof, or the room that still needs work.
- They rely on public records, which can be outdated or wrong about bedrooms, bathrooms, square footage and finished space.
- They can’t judge location within a town. A busy road, a cul-de-sac, a view or a backyard that abuts conservation land can change value a lot.
- They lag the market. They often miss what’s under agreement right now, and what buyers are paying this month.
What really sets your home’s value
1. Recent comparable sales
The strongest evidence is what similar homes nearby actually sold for, recently. I pull these directly from MLS PIN, the Massachusetts multiple listing service, and adjust for the real differences between each home and yours.
2. Today’s competition
The homes for sale right now are your competition. Buyers will compare your home to them, so we will too.
3. Condition and updates
Kitchens, baths, roof, windows, heating and the overall feel of the home all matter. I’ll also tell you honestly which updates are worth doing before you sell and which aren’t.
4. Market momentum
How fast homes are selling, how many are on the market and whether they’re selling above or below asking all shape what buyers will pay. You can see these numbers for Billerica in my free Billerica Town Guide, and I’ll prepare them for your town.
Why the right number matters
Price too high and a home can sit, collect price reductions and end up selling for less than it would have. Price too low and you leave money on the table. The first two weeks on the market are when buyer interest is strongest, so starting at the right price is one of the most important decisions in a sale.
Even if you’re not selling yet
Knowing your home’s value helps with refinancing, insurance, estate planning, and deciding when the time is right to rightsize or relocate. It’s also a great way to watch your biggest investment grow.
Every situation is different. For a more in-depth discussion about yours, call or text Rose at 781-248-6069.
Pricing & the Five-Star Listing Program
A real number, from a real person.
Pricing is the foundation of my Five-Star Listing Program. I’ll walk through your home, study the MLS PIN data and give you a value you can actually make decisions with, free and with no pressure.
Every client gets an individualized plan, built around your goals, your timeline and your circumstances.
- Call or text: 781-248-6069
- Meet on Zoom to review your numbers
- Meet in person: I’ll come see your home
Rosemary Kelleher, Realtor®
Helping People Make Smart Moves in Real Estate for 30 Years
Direct/Text: 781-248-6069
General information only, not an appraisal.