How do I calculate my home equity?

Home equity is the difference between what your home would realistically sell for in today’s Sarasota market and what you still owe on your mortgage. For example, if your home in Lakewood Ranch, Palmer Ranch, or Wellen Park would sell for $750,000 and your remaining loan balance is $410,000, your equity is approximately $340,000 before closing costs. Equity levels vary significantly based on when you purchased, how much appreciation your neighborhood has experienced, and any improvements you have made, such as a new roof, updated kitchen, or pool. Homes purchased before 2020 often saw substantial appreciation, especially in desirable areas near Siesta Key, Waterside, and downtown Sarasota. The most accurate way to determine your equity is through a professional price evaluation that analyzes recent comparable sales, current competition, and buyer demand, giving you a clear understanding of your true net position today.