What does it mean -- 'the house had been valued'?

[Melody]

Test No. incompl/advan-10 "Finance (2)", question 9

After their house had been ........., they decided to sell it and buy a bigger one.

(a) valued
(b) priced
(c) cost
(d) prized

Test No. incompl/advan-10 "Finance (2)", answer 9

After their house had been valued, they decided to sell it and buy a bigger one.

Correct answer: (a) valued
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Why 'valued' is the correct answer?

[Alan]

This means that someone has worked out/calculated what the house is worth - in other words how much it would cost if you wanted to buy it.
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English as a Second Language
You can read my ESL story Guy Fawkes Night for You