Understanding the Comparative Market Analysis (CMA)
What is a comparative market analysis? Who is it for? Why do I need one?
All these questions and more when considering to sell your home. Let’s iron this one out.
A CMA is a tool for sellers to give them an idea of what their home is worth. A CMA report is an in-depth report done by a licensed REALTOR. In a CMA report the REALTOR will look for comparable homes. Homes that are approximately the same size, offer the same amenities (number of bedrooms and bathrooms, garage size etc.) and their location. It is important to note that a CMA is not an appraisal.
Listed below is some of the information a REALTOR will evaluate
in these similar homes:
- Properties that have sold in the past 12 months
- Active listings (properties that are currently for sale)
- Current market factors (housing inventory)
- Pending sales (sold but not yet closed on)
- Expired listings (homes that did not sell during listing period
Make your home competitive on
todays market, contact us and
get a free CMA.