You’ve probably heard all the buzz about home prices skyrocketing over the past few years. But have you ever stopped to think about what that actually means for your home?

The truth is, home values have soared way beyond the usual pace. If selling has crossed your mind, you might be sitting on a bigger payday than you expected. So, just how much has your home’s value changed? Let’s dive in.

A Market Boom Like No Other

Usually, home prices tick up by about 2-5% per year. But in 2021 and 2022? Prices shot up by double digits—some areas even saw jumps of 20% or more. Why? There simply weren’t enough homes to meet demand, causing a price surge like we haven’t seen in decades.

Even though things have calmed down a bit, home values remain high. If you’ve owned your home for at least five years, you’ve likely gained a lot more equity than expected—giving you a major financial advantage.

In fact, data from the Federal Housing Finance Agency (FHFA) shows that, on average, home prices have jumped nearly 60% nationwide in just the past five years. And if you’ve been in your home even longer? That appreciation stacks up even more, adding to your wealth.

What This Means If You’re Thinking of Selling

Maybe you’ve been holding off on selling because you’re worried about affording your next home. But with the amount of equity you’ve built, your financial position may be stronger than you realize. That extra value could help bridge the gap to your next dream home—even in today’s market.

And what if you’ve made upgrades or renovations? That could push your home’s value even higher.

How Do You Find Out What Your Home is Really Worth?

Seeing those appreciation percentages is great, but what really matters is how much your home is worth right now in your local market. The best way to find out? Talk to a local real estate agent.

They’ll factor in everything—your neighborhood trends, current inventory, and any improvements you’ve made—to give you the most accurate estimate. Online calculators and state-level data can only tell you so much. A real estate pro will give you real numbers tailored to your home.

Ready to Find Out?

Your home may be worth more than you ever expected. Curious to see the numbers? Let’s chat and get you the answers you need!