I have decided to change up the video this month and talk about the Home Price Index (HPI) which indicate the price changes in a specific area over a specific time frame. Click here to watch it! After please enjoy the articles below.
As I mentioned in the video the HPI gives a fairly good indicator of how the price of a typical home has changed over time. But do you own a typical home? What is the typical home? If you need a market value for your home a Realtor, such as myself, can come into your home to do a Comparative Market Analysis or CMA. What this does is compare your specific home to other very similar homes in your neighbourhood which have sold recently in an effort to determine the market value of your home at that point in time. We would also review the similar homes that have not sold to advise where not to price your home when listing.