Listing
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The Agency D.C. Metro Alex Martinez
Managing Partner, D.C. Metro ______
Cell: (240) 258.2668 Direct: (240) 292.6237 Office: (202) 888.1127 ext. 302 Alex.M@TheAgencyRE.com
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Comparative Market Analysis
9 East Franklin Avenue, Silver Spring, Maryland 20901
Debbie Neil APRIL 24, 2021
Mercedes Fitzgerald
April 24, 2021
Dear Debbie Neil , I appreciate the opportunity to share my business plan with you. In order to inform you about the current happenings in today's market, I have prepared this comparative market analysis (CMA) especially for you. There are many properties on the market today, and each has different amenities, sizes, and values. By reviewing this CMA, you will have the information needed to price your home in the appropriate range in today's market. Home buyers always do a lot of comparison shopping. In today's market it is especially important to price your home right from the beginning and to get it "show ready". There are many homes available in all price ranges, but the homes that are priced right and show well are the ones that bring in qualified buyers. Part of this package includes a detailed copy of my personal marketing plan. We will certainly go over this in detail so that you feel comfortable to entrust your home sale to me. I am sure that once you review the plan, you will feel very satisfied with me marketing your home. My goal is to help you sell your home quickly and at a fair market value. I look forward to working with you on the sale of your home.
Sincerely, Mercedes Fitzgerald
Mercedes Fitzgerald 2
Comparative Market Analysis
9 East Franklin Avenue, Silver Spring, Maryland 20901
What is a CMA No two homes are identical, which is why choosing a sales price or offer price for a home can be challenging. That's where the comparative market analysis, or CMA, is most useful.
What is a CMA?
The CMA is a side-by-side comparison of homes for sale and homes that have recently sold in the same neighborhood and price range. This information is further sorted by data such as type of home, number of bedrooms, number of baths, lot size, neighborhood, property condition and features, and many other factors. The purpose is to show estimated market value, based on what other buyers and sellers have determined through past sales, pending sales and homes recently put on the market.
How is the CMA created?
CMAs are generated by using property information from your real estate agent's multiple listing service (MLS). The MLS is available to licensed members only, including brokers, salespeople, and appraisers, who pay dues to gain access to the service's public and proprietary data, including tax roll information, sold transactions, and listings input by all cooperating MLS members. Listing agents generate CMAs for their sellers, and buyer's agents create them for their buyers so both sides know what current market conditions are for the homes they're interested in comparing.
How accurate are CMAs?
The CMA is a here-and-now snapshot of the market, based on the most recent data available, but it can instantly be rendered obsolete by a new listing, or a change of status in a home with the same criteria. Why? The market is constantly changing - new listings, pending sales, closed sales, price reductions, and expired listings. CMAs can vary widely, depending on the knowledge and skill of the person creating the CMA as well as the number and type of data fields that are chosen. That means some features may not be included. As informative as the CMA is, it should only be used as a tool and should not substitute for your real estate professional's knowledge and advice.
Mercedes Fitzgerald 3
Comparative Market Analysis
9 East Franklin Avenue, Silver Spring, Maryland 20901
Map of Comparable Listings
STATUS:
MLS #
STATUS
ADDRESS
S = CLOSED
P = PENDING
A = ACTIVE
BEDS
BATHS
SQFT
PRICE
9 E Franklin Ave
-
1.00
1,170
-
1
Subject
2
MDMC741430
S
9408 Seminole St
4
2.0/1.0
1,635
$650,000
3
MDMC744988
S
9407 Garwood St
2
3.0/0
1,156
$635,000
4
MDMC730090
S
9605 Garwood St
3
2.0/0
1,630
$595,000
5
MDMC728684
S
9321 Sudbury Rd
5
3.0/0
1,652
$580,000
6
MDMC711376
S
9318 Sudbury Rd
3
2.0/0
1,440
$510,000
7
MDMC745858
S
9300 Flower Ave
4
2.0/0
1,629
$535,500
8
MDMC740268
S
9211 Flower Ave
3
2.0/1.0
2,334
$643,500
9
MDMC748408
S
9409 Garwood St
3
2.0/0
1,385
$660,000
10
MDMC751518
P
9305 Mintwood St
3
2.0/1.0
1,450
$599,000
11
MDMC743746
P
9401 Flower Ave
3
2.0/0
1,080
$445,000
12
MDMC748384
P
9408 Ocala St
2
1.0/2.0
1,228
$549,000
13
MDMC750154
P
18 Indian Spring Dr
3
1.0/1.0
1,768
$599,900
Mercedes Fitzgerald 4
Comparative Market Analysis
14
MDMC753142
9 East Franklin Avenue, Silver Spring, Maryland 20901
A
202 E Hamilton Ave
4
3.0/0
1,445
$689,000
Mercedes Fitzgerald 5
Comparative Market Analysis
9 East Franklin Avenue, Silver Spring, Maryland 20901
Summary of Comparable Properties S
SOLD LISTINGS
ADDRESS
SOLD DATE
BEDS
BATHS
SQFT
PRICE
$/SQ.FT
9408 Seminole St
2/23/21
4
2.0/1.0
1,635
$650,000
$398
9407 Garwood St
3/12/21
2
3.0/0
1,156
$635,000
$549
9605 Garwood St
11/25/20
3
2.0/0
1,630
$595,000
$365
9321 Sudbury Rd
11/30/20
5
3.0/0
1,652
$580,000
$351
9318 Sudbury Rd
6/10/20
3
2.0/0
1,440
$510,000
$354
9300 Flower Ave
4/9/21
4
2.0/0
1,629
$535,500
$329
9211 Flower Ave
2/12/21
3
2.0/1.0
2,334
$643,500
$276
9409 Garwood St
3/31/21
3
2.0/0
1,385
$660,000
$477
1,607
$601,125
$387
Averages
P
PENDING LISTINGS
ADDRESS
SOLD DATE
BEDS
BATHS
SQFT
PRICE
$/SQ.FT
9305 Mintwood St
5/20/21
3
2.0/1.0
1,450
$599,000
$413
9401 Flower Ave
4/30/21
3
2.0/0
1,080
$445,000
$412
9408 Ocala St
4/26/21
2
1.0/2.0
1,228
$549,000
$447
18 Indian Spring Dr
4/28/21
3
1.0/1.0
1,768
$599,900
$339
1,381
$548,225
$403
Averages
A
ACTIVE LISTINGS
ADDRESS
202 E Hamilton Ave
Averages
SOLD DATE
BEDS
BATHS
SQFT
PRICE
$/SQ.FT
-
4
3.0/0
1,445
$689,000
$477
1,445
$689,000
$477
Mercedes Fitzgerald 6
Comparative Market Analysis
9 East Franklin Avenue, Silver Spring, Maryland 20901
Comparable Property Statistics S
8 Sold Listings LOWEST
$510,000
P
$601,125
HIGH
$660,000
AVG PRICE / SQFT
AVG DOM
$387
9
AVG PRICE / SQFT
AVG DOM
$403
9
AVG PRICE / SQFT
AVG DOM
$477
9
4 Pending Listings LOWEST
$445,000
A
AVERAGE
AVERAGE
$548,225
HIGH
$599,900
1 Active Listings LOWEST
$689,000
AVERAGE
$689,000
HIGH
$689,000
Mercedes Fitzgerald 7
Comparative Market Analysis
9 East Franklin Avenue, Silver Spring, Maryland 20901
Sold Property Analysis Averages
103.2%
Homes sold for an average of 103.2% of their list price.
9
Days on market
It took an average of 9 days for a home to sell.
Analysis ADDRESS
ORIG LIST PRICE
SOLD PRICE
% OF ORIG LIST PRICE
DOM
$ PER SQFT
9408 Seminole St
$599,900
$650,000
108.35%
4
$398
9407 Garwood St
$570,000
$635,000
111.40%
6
$549
9605 Garwood St
$610,000
$595,000
97.54%
13
$365
9321 Sudbury Rd
$599,900
$580,000
96.68%
27
$351
9318 Sudbury Rd
$510,000
$510,000
100.00%
-
$354
9300 Flower Ave
$520,000
$535,500
102.98%
10
$329
9211 Flower Ave
$599,900
$643,500
107.27%
7
$276
9409 Garwood St
$650,000
$660,000
101.54%
1
$477
$582,462
$601,125
103.20%
9
$387
Averages
Mercedes Fitzgerald 8