The value of a property can change over time due to local market conditions and the condition of the property itself. For example, in a healthy market, the value of a house can grow 4% or more each year.
Knowing what your property is worth can help you decide when to sell and what your asking price should be. It can also help you determine if you should make some repairs or updates first. Since your property is such a major financial asset, it’s important to make informed decisions when you’re getting ready to sell.