For many long-time homeowners in New Smyrna Beach, the question is not just, “What is my home worth?” It is also, “What would it actually cost me to sell?”
That question has become more important as home values have risen over the years. Many owners are sitting on significant equity, especially those who purchased their homes decades ago. That equity is a good thing, but for some homeowners, it can also create a hesitation point when it comes time to sell.
One reason is the federal capital gains exclusion on the sale of a primary residence. Under current rules, qualifying homeowners may be able to exclude up to $250,000 in gain from taxable income, or up to $500,000 for married couples filing jointly. Those numbers have not been increased since 1997.
Nearly 30 years later, home prices look very different.
That is why the National Association of REALTORS® is supporting the More Homes on the Market Act, a bipartisan proposal that would update the home sale capital gains exclusion. The legislation would double the exclusion to $500,000 for single filers and $1 million for married couples filing jointly, while also indexing those amounts for inflation in the future.
Why This Could Help Unlock More Housing Inventory
The issue is bigger than taxes alone. It is also about movement.
Across the country, many homeowners who might otherwise sell are choosing to stay put because they are concerned about the tax impact of selling a highly appreciated home. Some would like to downsize. Others want to move closer to family, purchase a home that better fits their current lifestyle, or relocate to a different area. But when the potential tax bill feels too large, selling can feel less practical.
That decision affects more than one household. When a homeowner chooses not to list, that home is removed from the pool of options for buyers. Fewer listings can make it harder for families, retirees, first-time buyers, and move-up buyers to find the right fit.
In a place like New Smyrna Beach, where demand has remained strong and many owners have built substantial equity over time, this issue is especially relevant. Updating the exclusion would not force anyone to sell, but it could give more homeowners the freedom to make the move they already want to make.
What This Means for New Smyrna Beach
New Smyrna Beach has always had a unique appeal. Between the beachside lifestyle, established neighborhoods, boating access, walkable local spots, and proximity to the rest of Volusia County, many homeowners have watched their property values rise significantly over the years.
For some, that creates a wonderful opportunity. For others, it creates uncertainty.
A homeowner may be asking:
Is now the right time to sell?
Would I owe capital gains tax?
How much equity do I actually have?
What would I net after selling expenses?
Could I buy something that better fits my life now?
Would selling make financial sense?
These are not simple questions, and they should be answered with the right team around you, including a trusted real estate professional and a qualified tax advisor.
Why NSB Homes Supports This Conversation
David and the NSB Homes team are advocates for smart housing policy that helps homeowners make the decisions that are right for them. The More Homes on the Market Act could be an important step toward helping more people move without being penalized by outdated tax limits that no longer reflect today’s home values.
This is not about pushing homeowners to sell. It is about giving them more flexibility.
When people can move more freely, it can help open up inventory, create more choices for buyers, and support a healthier local housing market.
Thinking About Selling? Start With the Numbers.
Before making any decision, it is important to understand your home’s current value, your equity position, and your potential tax exposure. The real estate market has shifted, and every property is different.
If you have owned your New Smyrna Beach home for many years, now may be a good time to review your options. You may have more equity than you realize, and proposed changes like the More Homes on the Market Act could make future planning even more important.
NSB Homes can help you understand what your home may be worth in today’s market and what local buyers are looking for right now.
For local real estate guidance, reach out to David and the NSB Homes team.