The market value of a property is the price in which it will sell within one to three months in a normal real estate market condition. There are factors, which are considered during this process, the location of the property and similar homes in the same neighbourhood.

Most homebuyers are looking for a home that is in turnkey condition. Assessing the condition of the property is essential as this will determine the number of buyers who are interested in buying the property, which will affect the amount of time the house, is on the market before it is sold.

Determining the current market value of a house is not as simple as taking the estimated costs for renovations from the selling price of other appraised homes in the same neighbourhood.  To attract potential buyers to the home the price must be reduced by much more than the mere cost of repairs.

The current condition of the house is very important when you are assessing the market value; it is almost impossible to ascertain how much the physical condition of the property affects its value.
 
If a home is not sold within the normal time frame of 30 to 90 days in a normal real estate market, then it could be that the home has been priced too high. Another scenario is if the home sells within one or two weeks this could mean that it was priced too low. A good indication of a true market value is based on a home that sells within one to three months of the actual listing date.

Market Value is simply the price at which something will sell within a reasonable period of time. Find information on "comparable sales" in order to calculate the current market value of a particular house.

Use the Home Value Calculator in order to get home value estimates. These calculators may rely on recent home sales and refinance transactions in your area in order to produce a value estimate, an appraisal or CMA may still provide you with the most accurate assessement