There are many ways to analyze the value residential real estate. One commonly used method is the CMA or Comparable Market Analysis. In essence, a CMA offers an approximation of property value with current listings for sale, pending homes sale and recent sales (usually within 3-6 months). This information is used to understand what a similar property may sell for in the current market. Since the market is always changing, CMA’s should be regarded as a snap shot of the real estate market at the time the CMA was generated.
As a real estate professional, I use CMA’s as a guide. Every home is different and all the details matter when it comes to arriving at a marketable price for your home. Once the sale process starts, I regularly analyze the local market to make sure we are priced well and that we are competitive with the current inventory. Getting top dollar for your home begins with understanding all aspects of the home sale and CMA’s are important.
Contact me for your free CMA.