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That depends on many variables, but a skilled real estate agent can always figure it out. Some of the variables include size, condition, lot size, number of bedrooms and bathrooms, updates, neighborhood, layout, other amenities and features, and more. Another category of variable includes market conditions and recent comparable sales.
Big picture? As of this writing, the median sale price for a single family home in Barre (including both Barre Town and Barre City) was $329,000. The median number of bedrooms was 3, bathrooms was 2, and the median square footage was 1664. The median lot size was .34 acres.
So…if that’s what you have, in a median location, in median condition, with a median layout then, maybe your home is worth $329,000.
What’s a median location? Who knows. Median condition? Impossible to say. Median layout? Yeah right.
And, to quote Vizzini in The Princess Bride…”Wait ‘til I get going!”
3 bedrooms may be the median, but they could be in more or less desirable locations. They could be very small bedrooms, or very large bedrooms. Two could be in great condition, and one could be not so great. Maybe the house your house has a big bedroom with a walk-in closet, and the house you’re comparing it to doesn’t. They’re both bedrooms…do they have the same value?
Or, if one house has 4 bedrooms, and 2400 sf, and another has 4 bedrooms and 1300 sf. It makes sense that the larger house would be worth more than the smaller. Are the 4 bedrooms worth the same? Four bedrooms in 1300 sf might feel a little cramped, a little choppy. Maybe not…but maybe. So perhaps another adjustment is needed for the relationship between the number of bedrooms and the square feet.
If homes are selling quickly, and prices are trending higher, then your home might be worth more today than the historical sales data indicates. Which is great! The opposite could happen too. Which is not great. We could be in a market cycle where homes are taking longer to sell, or they’re actually declining in sales price. In that case, your home might be worth more today than in 3 months.
Last one, before my head explodes. If you’re selling your home, then it’s worth what a buyer is willing to pay and you’re willing to accept. And only if that’s the same number. If you’re on the market at $700,000 and the highest offer you have received maxed out at $650,000 then at that moment, we know two things. We know it’s probably worth less than $700,000 and it’s worth at least $650,000.
The best way to find out what your home is worth in Barre is to have an experienced real estate agent walk through the home, take detailed notes, do some serious thinking and research, and then present a market valuation.