Do You Know What Your Home Is Really Worth?
It’s one of the most important numbers homeowners rarely revisit: the true value of their home.
And it matters - because your home isn’t just where life unfolds. For most homeowners, it’s their single largest financial asset and a powerful wealth-building tool.
If you’ve owned your home for several years or more, there’s a strong chance it’s been quietly working for you - building value in the background, even if you haven’t been tracking it closely. Despite shifting headlines and market noise, many homeowners are surprised to discover just how much their home has appreciated over time.
The Power of Home Equity
That built-in value is known as home equity - the difference between what your home is worth today and what you still owe on your mortgage.
Equity grows in two key ways:
As home values rise
As you steadily pay down your loan
For example, if your home is worth $500,000 and you owe $200,000, you have $300,000 in equity.
That scenario is more common than you might think. According to Cotality, the average homeowner with a mortgage currently holds approximately $302,000 in equity.
Why Your Equity May Be Higher Than You Realize
Homeowners today are benefiting from near-record equity levels, largely due to two factors:
1. Strong Long-Term Home Price Growth
According to the Federal Housing Finance Agency (FHFA), U.S. home prices have increased nearly 54% over the past five years.
Even with recent market adjustments, homeowners who purchased several years ago are often in a strong position. If you’ve owned your home for some time, you’ve likely built enough equity to sell confidently and still move forward with options.
2. Homeowners Are Staying Put Longer
The National Association of Realtors reports that the average homeowner now stays in their home for about 10 years.
That longer ownership window allows appreciation and consistent mortgage payments to compound meaningfully. In fact, NAR estimates:
“Over the past decade, the typical homeowner has accumulated $201,600 in wealth solely from price appreciation.”
That’s the power of a long-term approach to real estate.
What Could Your Equity Make Possible?
Equity isn’t just a number - it’s opportunity. Depending on your goals, it could help you:
Make your next move:
Use your equity toward a down payment on your next home - or, in some cases, reduce or eliminate the need for financing.
Reimagine your current home:
Thoughtful renovations can enhance how your home supports your lifestyle today while potentially increasing its long-term value.
Invest in what’s next:
Whether it’s launching a business, pursuing a passion project, or creating new income opportunities, your equity can serve as a strategic financial springboard.
Your Next Step Starts with Clarity
Chances are, your home is worth more than you think.
If you’re curious about your home’s current value or wondering how your equity could support your next move, the Price Group is here to help. With a thoughtful, hyper-local market analysis, we’ll help you understand your numbers, explore your options, and make informed decisions with confidence.
Because the smartest moves begin with knowing what you already have.