Have You Checked Your Home’s Value Lately?

By Lisa DiBiase

I talk to homeowners all the time who have no idea how much equity they’re sitting on. They bought their house years ago, they’ve been living their lives, and the idea of “checking in” on what their home is worth today just hasn’t made it to the top of the to-do list. That’s completely understandable but when we actually sit down and look at the numbers together, the reaction is almost always the same: genuine surprise.

February 2026 Housing Report

The Maine Association of REALTORSⓇ released its February 2026 housing report last month, and the numbers are worth knowing if you own property in Southern Maine.

Statewide, the median sales price for a single-family home in February was $395,000, up 3.47 percent from the same period last year. That’s real appreciation, even in February, which is historically the quietest month of the year for sales.

Zoom in on our corner of the state, and it gets more interesting. In Cumberland County, the median sales price for the rolling quarter, December through February, was $560,000. York County came in at $520,000 for the same period, up 5 percent year over year. Those prices reflect something important: homes here have held their value and then some, even as the frenzy of the past few years has settled down.

The Equity Gap

Equity is just the gap between what your home is worth today and what you still owe on it. That’s it. If your home is worth $480,000 and your remaining mortgage balance is $210,000, you have $270,000 in equity. It’s yours, just not liquid until you do something with it.

Here’s what makes the Southern Maine situation particularly interesting for long-term homeowners: values in this region climbed dramatically over a relatively short period of time. Someone who bought in Windham, Standish, or Raymond in 2017 or 2018 for $280,000 may be looking at a home worth $420,000 or more today. Add in years of mortgage payments chipping away at the principal, and the equity position can be substantially more than what people expect when they first do the math.

Using Your Equity

Not every use of home equity makes equal sense, and it's worth clearly understanding the options before making any decisions.

The first is a home equity loan or line of credit. These two options allow you to borrow against your equity while staying in your home, which is useful for renovations, consolidating higher-interest debt, or funding a major life expense. Your home serves as collateral, so this deserves careful thought and a conversation with both a lender and a financial advisor.

The second is using equity as a bridge to your next home. This is where I spend a lot of time with clients. Many people assume they can't afford to move in this market. But when they actually see what they're holding in equity, the math often looks different. That equity becomes a substantial down payment on a larger home, a Lakes Region property, something closer to family, or a downsize that frees up cash for retirement or other goals.

The third is simply knowing what you have. Even if you have no plans to move or borrow, understanding your equity position is part of being a financially informed homeowner. It shapes your insurance decisions, your estate planning, and your options if life circumstances change in ways that you can't predict today.

The Surprising Part

Southern Maine homeowners have quietly built real wealth over the past several years, often without stopping to think about it. Values in this region climbed significantly in a short period, and most people were simply busy living their lives while it happened. Raising kids, renovating the bathroom, and watching their neighborhood grow around them.

What I find is that when we sit down together and look at what comparable homes on their road are selling for right now, people walk away with a much stronger sense of what they've accomplished. Years of mortgage payments and a market that rewards long-term ownership have put many Maine homeowners in a powerful financial position.

If you've been wondering what your home is worth in today's market, that question deserves a real answer, and you might be pleasantly surprised by what you find.

This article was brought to you by Lisa DiBiase, Broker/Co-Owner of Landing Real Estate. Lisa and her team proudly represent buyers and sellers across the Greater Portland, Lakes Region, and beyond. For all your real estate needs, contact Lisa at [email protected] or call (207) 775-SOLD. <