Home Value

Ask Alia: How Can I Tell If My Property Value Has Increased?

Photo montage courtesy Curbed DC

Photo montage courtesy Curbed DC

Check out my monthly “Ask Alia” residential real estate advice segment at Curbed DC! Here’s an excerpt from this week’s post:

How can you tell if your property has increased in value?

There are a couple of simple indicators you can look out for as signs that your property value is increasing. First off, if you’re noticing that “Under Contract” or “Sold” signs are going up very quickly after a house goes on sale, that’s typically a sign that your area is in high demand. Another sign is an increase in your tax bill.

If you simply want to know how much the city (a.k.a. the folks in charge of your tax bill) thinks your property is worth, just go to D.C.’s Real Property Assessment Database and type in your address. The most recent “Total Assessment” (meaning your land value + the value of the structure built on that land) will be in the right-most column. But keep in mind, this number is rarely an accurate reflection of your home’s market value.

If you want to know what someone would actually pay you for your house, your best bet is honestly to contact a realtor. In addition to literally being on the ground every day, realtors have access to market data and statistics that can give you the most accurate snapshot of your home’s current market value at any given time.