Pricing Your Home MARKET

I provide sellers with a Competitive Market Analysis. A CMA is a tool to estimate the value a property by looking at properties in a given area that share many of the same qualities of the home that is being sold.

What Goes Into A Comparative Market Analysis?

Although completing a comparative market analysis is a complex process, it’s broken down into separate, manageable parts These parts collectively give sellers and buyers a thorough value estimate .

Analysis begins with compiling a list of at least three similar properties within the same area that have sold in the last 3 – 6 months . If there isn’t enough sales data, agents may also select properties that are currently listed or pending on the market

Here’s a list of the various components that go into a CMA:

Location: The best comps will be located in the same nei g hborhood as the subject property. However, if there haven’t been enough recent sales in the area to complete the CMA, the agent will select comps located in an area that is considered similar.

Lot size: The size of a property’s lot plays a large role in its market value.

Square footage: The larger the house, the more valuable it tends to be. Therefore, the extent of livable square footage can be just as important as the number of rooms within the home.

Age and condition of property: The year the house was built and whether it’s been recently renovated factors into the value. Newer constructions and homes built with high - end materials are often considered more valuable.

Number of bedrooms and bathrooms: The more bedrooms and bathrooms a home has, the higher its value will be.

Special features: Specialty features, like fireplaces, patios, swimming pools, garages, finished basements and so on are also taken into consideration.

Date of sale: The comps chosen should have sold within the last 3 – 6 months. If sale dates are not current, sales prices must be adjusted to reflect how the market conditions have changed.