market value


The estimated price that a willing buyer would pay and a willing seller would accept for a particular property.

The market value of a property is not the same as its expected selling price.

For example, if a property is only on the market for a brief period and the sale is rushed, it may sell for less than its market value because there has not been sufficient time to attract the best offer.

Determining the market value of your home is an important part of creating your pricing strategy.

A real estate agent can help you estimate the market value of your property by examining factors such as market conditions, affordability (how much the average buyer can pay or take on as a mortgage loan), location, quality of upgrades, state of repair, and special needs (such as wheelchair accessibility). A real estate agent will also compare your property to similar properties, using them as references.

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