Using A CMA To Price
A Comparative Market Analysis (CMA) is the strongest tool we use when estimating
the potential selling price for your home. As a member of the Board of REALTORS®
with access to the Multiple Listing Service, we can prepare a report that analyzes
comparable homes in your area. Using this valuable information, we can assist you
in determining an attractive, yet realistic price for your home. A Comparative Market
Analysis highlights similar homes in your area:
SOLD Looking at the prices paid for recently sold homes provides the best foundation
in determining your home’s most accurate market value. Once adjustments are made
for square footage and features, we can make a qualified recommendation for the
asking price of your home.
UNDER CONTRACT Homes that have received and accepted an offer give a good
indication of realistic pricing.
ACTIVE LISTINGS Homes that are currently competing with yours for the attention
of buyers. We can see what comparable asking prices are, but remember, these homes
have not yet received an acceptable offer.
EXPIRED Homes that have gone through the duration of a listing period, but failed
to sell. Many factors could be responsible such as lack of marketing or the home’s
condition, but most often it is simply because the home was priced too high.