The market value of a property or home is the price that a
buyer is willing to pay and what the seller is willing to accept. Real estate agents are trained to
pinpoint a home’s market value by looking at a variety of characteristics,
including the following:
Internal characteristics: Size and number of rooms, construction and appliance quality and condition, heating systems, and energy efficiency.
Comps, or comparables: What similar homes in the same area have sold for recently.
Supply and demand: The number of buyers and the number of sellers in your area.
Location: How desirable is the neighborhood? Are the schools good? Is the crime rate low?
