What Is Market Value?

Recent sales of Similar Properties:
The best indications of market value come from recent sales of properties that compare in terms of location, lot size, age, and condition of home. Recent sales indicate what people have been prepared to pay for similar properties in a given market.

Property Currently Listed on the Market:
To determine the value of your property it is important to know your what else in on the market.  Your realtor is aware of properties similar to your home in age, property size, style, condition and location. Length of time on the market and price reductions are also indicators of the property’s perceived market value.