What's My Home Worth?

How is the sale price of a home determined?

Although an online estimate can provide a ballpark figure for your home's value, real estate professionals typically use two in-person methods to gauge its current market worth. One involves an official home appraisal conducted by a professional appraiser, while the other is a Comparative Market Analysis performed by a real estate agent.

Comparative Market Analysis

For a CMA, a Realtor® will compare your house with recently sold or listed properties nearby, preferably in the neighbourhood. They will collect details including square footage, number of bedrooms and bathrooms, parking type, storage, recent renovations or upgrades, and any other relevant features like construction materials used. 

The questions asked may include:
  • What is the current value of similar homes?
  • How does it compare to similar properties currently on the market or recently sold, or terminated, meaning those that didn't sell.
  • What are the main features of the property?
The exercise is not as in-depth as an appraisal.

Home Appraisal

A home appraiser determines value by considering a home’s physical characteristics, such as age, condition and location, comparable sales data from the area, market conditions, zoning and income potential if applicable, cost of replacement, and other relevant factors. An appraiser will give their unbiased opinion on what the home is worth is by looking at both internal and external factors.

A home appraisal entails:
  • An in-depth analysis of the home’s interiors and exteriors.
  • An evaluation of the home’s fixtures, additions, and features.
  • Measuring square footage.
  • Comparing the home to recently sold homes in the area.

Looking to find out what your home is worth in today's market?

If you're thinking about selling your home, it's important to know how much your property is worth in today's market so that you can determine an appropriate selling price. 

Simply fill in the form below to receive a FREE home evaluation of your property, including comparisons to other homes that have recently sold or are currently on the market, at no obligation. 

Thank you!

Please Provide More Information About Your Home.

Suzy Buckley

MaxWell Capital Realty

201A - 306 Bow Valley Trail  Canmore,  AB  T1W 0L1 

Mobile: (403) 678-0128

Phone: 403-678-0128