Comparative Market Analysis
FREE of obligation and charge
A successful CMA provides the home owner with an accurate price range for their home.
Knowledge is power!
Comparative Market Analysis
A Comparative Market Analysis (CMA) is an in-depth look at homes similar to yours in size, location, condition, and amenities that have sold within the past 3 to 6 months.
This information is great to know for future endeavors. Whether you are interested in selling your home now or in the future, this will help you understand its current value.
When the CMA is used to sell your home, it can also be an indicator of how long it takes to sell depending upon which end of the price range you choose.
Here are 3 ways a Market Analysis helps you!
1) Provides market insight
Today’s market is constantly changing, the trends shift from sellers to buyers market and back again. In a sellers market, inventory can be harder to come by as sellers may sit on their property investments. Selling a properly priced home is key so you should know the market trends. The CMA will include listings that are currently active on the market.
This will help you get a feel for what prices your home is potentially competing against. Expired listings, or homes that don’t sell should serve as a red flag. These sellers may not have taken their homes’ CMA seriously and priced outside of the market.
2) Prices your home to sell
The CMA will include a range, the upper and lower price limits of what is appropriate for your home. This number is based on the analysis of sold listings similar to yours in size, amenities, and location, and the local real estate market.
If you are like most sellers, then you want to get your home on the market and sold. Choosing an appropriate price will ensure you sell your home as quickly as possible.
3) Understanding the market
Each home listed in the CMA should show the number of days on market, how long a home has been or was on the market. The fewer days on market, the better in most cases.
Now that you know the importance of realistically assessing your home’s market value, let’s perform a comparative market analysis for you today!