Proceeds vs Profit: How Much Will I Make Selling My House?
Despite elevated mortgage rates and a slowdown in home sales, U.S. home prices continue to rise. In the first quarter of 2024, more than 90% of metro areas experienced home price gains, according to the National Association of Realtors (NAR). During that period, the national median single-family existing-home price surged 5% year-over-year to $389,400.
The latest market stats have many homeowners asking the question: Is this a good time to sell my home? How much will I make selling my house?
If a homeowner determines that this is the time to move, questions arise:
How much will I make on my house?
What is my home worth?
What will my net profit be?
First, it’s important to know the current value of your home. A good place to start is by using an online home value estimator. HomeLight’s free home value estimator can give you a ballpark idea of your home’s worth.
Next, we did some research and spoke with Jesse Allen, a top agent who sells homes 56% more quickly than the average Jeffersonville, Indiana, agent, in order to break down how to calculate how much money you might walk away with after selling your home.
