Have you noticed all the headlines about rising home prices over the past few years? It’s been quite a journey, and if you’re a homeowner, it’s worth considering what this means for you.

As two Realtors who have had the privilege of guiding many families through their homeownership journeys, we’ve seen firsthand how much the market has changed. If you’ve been toying with the idea of selling, you might be sitting on more equity than you ever imagined. So, let’s dive in and see just how much your home’s value may have grown!

The Rapid Rise Over the Past Five Years Typically, home prices increase by about 2-5% per year. But between 2021 and 2022, we saw double-digit jumps—some areas even hit a 20% or higher increase in value! It was a whirlwind, driven by more buyers than available homes, and while the market has since stabilized, those past surges have left a lasting impact on home values.

The result? Your home may be worth significantly more today than it would have been under normal market conditions. That’s not just an exciting statistic—it’s real wealth that could open doors for your next move.

How Much Has Your Home Appreciated? Recent data from the Federal Housing Finance Agency (FHFA) shows that, nationally, home prices have surged nearly 60% in just the past five years. Imagine what that means if you’ve owned your home even longer! Those extra years of appreciation could translate into even more equity.

If you’ve been holding off on selling because of concerns about today’s prices or interest rates, this added equity might be the key to bridging the affordability gap and moving into your dream home.

Want to Know Your Home’s True Value? While broad market trends are helpful, they don’t tell the whole story. That’s where we come in! Local market conditions, neighborhood trends, and any updates you’ve made to your home all factor into its true value. A personalized evaluation from a trusted real estate professional is the best way to get an accurate picture of your home’s worth.

The Bottom Line Your home may be worth more than you ever expected, and that could be a game-changer for your future plans. If you’re curious about how much equity you’ve built, let’s connect! We’d love to help you explore your options and make the most of this incredible market.