All signs point to a hot housing market this spring. According to the National Association of Realtors (NAR), home prices are on the rise. And thanks to a healthy jobs market and low interest rates, so is affordability. Thats good news for everyone!

If youve been thinking about selling your home, nows a great time to do it! Of course, before you start packing, theres one question you need to answer first: Can you make more on your home than you paid for it?

Lets look at a few signs that point to yes.

1. Business Is Booming in Your Neighborhood

Ah, theres nothing like the sound of business being built in the morning! Whats that? You dont like waking up to pounding hammers and buzzing saws?

Well, what if we told you thats the sound of money?

Its true! Think about it: Businesses dont open their doors in stagnant parts of town. They plant roots in areas with potential for growth. If new businesses are popping up all around you, your communitys destined for an upswing.

Need proof? A recent study found that home values in areas with a strong small-business core rose 54% more on average than those without one.

2. Neighborhoods Near You Have Spiked in Value

Now that weve covered the business side of things, lets dig into a few details. Well start by looking at neighborhoods near you. The question is: Have they gone up in value?

Trulia and Zillow both provide simple tools for exploring home value trends near you. Just ignore any estimates you see and study sale prices instead. Why? Because its a true indication of actual market value.

Look for homes that have sold in neighborhoods near you. You can gauge which direction values are headed by comparing a homes recent sale price with its pricing history. If neighborhoods near you are fetching more today than they did a few years ago, yours could do the same!

3. Your Next-Door Neighbors Home Sold in a Week

You could have sworn Bob and Betty put a For Sale sign in their yard just last week. But today, its gone. Did they change their mind, or could their home really have sold that quickly?

Theres a good chance its the latter. The latest NAR data shows inventory remains low. If For Sale signs are disappearing faster than lightning, you probably have more buyers than homes available. And when demand goes up, prices follow.

4. Your Real Estate Agent Says So

If youre looking for a sure answer, theres only one place to go: straight to the source! Were talking about a tried-and-true professional who knows your market like the back of their hand (or maybe even better!)

Ask an experienced real estate agent to provide a free comparative market analysis (CMA) to get you started. Your agent has the inside scoop on homes like yours that are either on the market or have sold in recent months. Theyll assess various factors for each comparable property, including:

• List vs. sale price
• Time on the market
• Square footage
• Home features and improvements

A true pro will take time to walk you through the results so you understand exactly how your home stacks up to the competition. With this information in hand, you can work with your agent to set a competitive price thats based on fact, not emotion.

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