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A CMA (comparative market analysis) is an indicator of what today's buyers are willing to pay for a home. It compares the market activity of homes similar to yours in your neighborhood. Those that have recently sold represent what buyers are willing to pay. The homes currently listed for sale represent the price sellers hope to obtain. And those listings that have expired were generally overpriced or poorly marketed.
As your Realtor®, I will prepare a CMA for your home based on the most current market information. Together, we will establish the proper list price for your home.
The CMA will provide a comprehensive analysis of properties similar to yours that are currently for
sale, or were recently for sale, in your area.
By carefully reviewing the locations and features of these "comparables" you'll be better able to approximate
your property's ultimate selling price, which can be defined as the highest price that the market will
recognize and pay. Approximating your property's selling price will then help you to strategically determine
a listing price that enables you to successfully sell your property for its top market value.
This analysis is divided into three categories:
Comparable properties that are currently on the market
These are properties
that will be competing with yours for the attention of available buyers.
Comparable properties that have recently sold
A CMA considers SIMILAR PROPERTIES that have sold in the recent past, showing us what buyers in
this market have actually paid for properties similar to yours.
It is important to note that these selling prices are used by
lending institutions to determine how much they will lend buyers for a home like yours.
Comparable properties that failed to sell
Understanding why these properties did
not sell can help avoid disappointment in the marketing of your property. Looking at properties that failed to sell will help you to avoid listing your property at a price that does not
attract qualified, motivated buyers. Overpricing a property often results
in sellers actually getting less money than they would if they had priced it realistically in the first place.
The bottom line is that studying what has recently worked — and what hasn't — in your area will help you to
develop a clear picture of the potential market for your property. This will in turn enable us to strategically
price, position and stage your property so that it sells for top dollar in a reasonable time frame, with
the least inconvenience for you.
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