Figuring out what your Montgomery County home is worth in the current market involves finding comparable properties that have recently sold in your neighborhood. I can provide you with an In-Depth Price Analysis of your home’s value using the multiple listing service in Montgomery County MD. You can also get a Free Report – What’s Selling in Your Neighborhood by providing your address.
Comparables, or comps, are properties that are similar to yours that have sold in the last three months in your immediate area. In most cases they are similar sized homes of the same type in about the same age range with roughly the same amenities.
You can visit these pages on our site to get more detailed information about the individual neighborhoods in the cities and average prices in these areas:
The square footage of your home is one of the key variables in being able to compare homes. The Myers Team has access to the tax database, which shows us the home’s square footage. It is normally calculated for the upper levels and may show a separate amount for the lower level. You can also look up individual addresses in the state’s tax system to find your home’s square footage. Another key variable to compare is the lot size. Other variables in determining comps including garage size, upgrades such as gourmet kitchens and updated baths and amenities such as pools and decks.
Our Team also looks at the property tax assessment to determine if there might be other factors the county has used to determine your home’s relative worth. However, the county’s assessment of value is not a substitute for market value. County assessments do not reflect current market conditions, they just help us compare the value of one home in a neighborhood with another. You can look up a home’s Montgomery County property tax assessment.
When looking at the sales price of a recently sold home in Montgomery County, you need to net out the seller subsidy that was paid to help the buyer with closing costs. This subsidy is a fairly common practice in this real estate market in the Montgomery County MD area.
Your neighborhood’s school assignment does affect the value of your home. There are Montgomery County high schools that are considered more desirable, homes in those areas are generally more expensive than comparable homes in other areas of Montgomery County.
Click on the map below to search the Montgomery County Multiple Listing Service to see current home asking prices.