How much is my home worth?
It appears that there's a growing awareness of homeowners feeling somewhat disconnected from the dynamic shifts in the property market, as per recent findings.
If you're curious about the current value of your home, there are several avenues you can explore to get a more accurate estimate.
These include online real estate tools which can be found on our website, professional appraisals, checking with your local property assessor here at Clarkes and staying informed about market trends in your area.
Each method offers its unique perspective on your home's worth, allowing you to make a more informed assessment.
On average, residents are currently valuing their own properties 15% higher than estate agents’ valuations.
In a recent study thousands of homeowners in England and Wales were asked to give their own view on how much they believed their property was worth.
Independent local estate agents were then asked to value the properties and compare the figures.
In 2022, homeowners were overvaluing by an average of 11%.
Now they are overvalued by an average of 15%. This growing inaccuracy suggests homeowners are struggling to keep up with the declining market.
It is a little unsurprising that owners are becoming less accurate in their valuations since the property market has seen some significant fluctuations over the last three years.
Anyone who hasn’t bought or sold a property in that time would likely find it very challenging to gauge where the market is currently, and how much they might realistically hope to achieve for their property.
Nationally, the average house price has fallen by 5% over the last year and average time on market has increased by 26%, so owners are having to price their properties much more competitively to achieve a sale in the current market.
At Clarkes we understand how important it is to market your property competitively in a market that is currently saturated with properties. This in turn will help give you the best opportunity to secure a proceedable buyer at the best price possible.
Marketing your property correctly and being seen by a wide audience is paramount at these times - At Clarkes we have you covered with our professional photo shoots and knowledgeable team helping you stand out from the crowd.
Whether you are already selling your home through Clarkes or are thinking of taking the next step to market your property we are always on hand to give you our best advice and help you every step of the way.
The Clarkes Team