Comparative Market Analysis Explanation
A “Comparative Market Analysis” or “CMA” allows me to ensure that we are pricing your home competitively and at the highest price that the market will bear.
The CMA is made up of three areas with homes comparable to yours. Homes that are for sale right now, homes that recently sold and homes that did not sell. When we review homes in these categories, we see trends that help us to properly price your home.
• Homes that are similar to yours and are currently for sale gives us a good idea of the homes serious buyers will be seeing. Know as your competition.
• Homes that have recently sold give us a good indication of what the market will bear, and allows us to see trends in increases or decreases of sales price. Perhaps the most valuable measure.
• Lastly, looking at homes that failed to sell tells us what price is too high that buyers are willing to pay.
With this information I can provide you with a fact based price range of the value of your home in today’s market.