Defining Comparative Market Analysis

If you're thinking about putting your home up for sale, you might be wondering how to set a fair price for it. The answer to that is simple: your real estate agent will use a comparative market analysis to determine the right list price.

A comparative market analysis or CMA is a report that a real estate agent puts together when determining a fair market price for a home. Exactly what goes into this report varies from one home to the next, but it always showcases comparative properties that are currently on the market or that have recently sold. A CMA is intended to help sellers get an idea of what their home is worth on the current market while lending social proof to an agent's suggested selling price.

Factors to Consider with a CMA

A CMA will include several factors that will determine a fair market price of a home. These include the age of the home, its location, the size of the property, whether it has any unique amenities, and whether it's been recently renovated. The CMA will also include information about similar properties in the area when determining the value of a home.

Whenever a property goes on the market, it faces competition from all other available homes within its price range. A CMA provides guidance for a property's list price. Since choosing the correct list price for a home is one of the best things that a seller can do to attract interested buyers, a detailed CMA is invaluable when you want to sell your home.

If you are interested in putting your own home on the market and you need a comparative market analysis, contact the Watson Realty Group. We will be happy to take a look at your home and help compile a detailed CMA for you.

And if you choose to sell your home with us, you can benefit from our guarantees! One of which is our Seller Cancellation Guarantee. We are so confident that you will love working with our team that we allow you to cancel your seller agreement with us with no penalties.

12-12-2022