Over the past few years, we’ve all seen the headlines—home prices are climbing, and fast! But have you ever taken a moment to consider what that means for your home?
If selling has crossed your mind, you could be looking at a bigger-than-expected payday. Let’s take a closer look at just how much home values have risen and what that could mean for you.
The Rapid Rise in Home Values Over the Past 5 Years
Typically, home prices increase by about 2-5% annually. But between 2020 – 2024, home values skyrocketed in Charleston with a 52% increase!
Why? A housing shortage combined with soaring demand drove prices to record highs. And while things have stabilized, homeowners are still reaping the benefits of those massive gains.
So, if you’ve been in your home for a while, you’re likely sitting on significantly more equity than you might think. And if you’ve been there even longer? You’ve stacked those extraordinary gains on top of years of steady appreciation—boosting your wealth in a major way.
How Much Is YOUR Home Worth?
Area wide data gives us a broad picture, but when it comes to pricing your home, it’s all about the local market. What’s happening in your neighborhood? Is inventory still tight? Have recent sales in your area driven values up even more?
Beyond that, home improvements, renovations, and your property’s condition play a huge role in determining value. Whether you’re planning to sell or just want to explore your options, knowing your home’s value is the first step to making informed decisions. That’s where a real estate professional comes in. A local expert—like our team at Lauren Zurilla and Associates—has the latest market data, a deep understanding of pricing trends, and the expertise to provide you with a personalized, accurate home valuation.