Breaking Down the CMA

CMA stands for Competitive Market Analysis. It is the tool we use to help you determine what your home is worth in today’s market. It is a review that studies the prices of sold properties, pending sales, active and expired listings to arrive at a market price range for a subject property. Below are some of the features of a CMA that we go through to arrive at a price range for the your property.

  1. Review of all homes that are similar to the subject property you are looking to sell that have recently sold or are pending sale(Last 6 months holds more weight).

  2. Review similar homes that are currently on the market for sale as that is our competition and who we will be competing against. (You really want to keep this in mind).

  3. Look at recent expired listings of similar homes and see how they were priced and whether that was a factor in them not selling.

  4. You want to stay current with all pricing data. We are looking for the property’s current value or what it is worth right now under current market conditions. The CMA is a time sensitive tool.

  5. By using these comparables with adjustments to match the subject properties we will come up with a price range that will help you price your property to the current market conditions.

Pricing your home correctly is the number one factor in it selling quickly with buyers wanting to see your property and willing to make offers on it.  If you overprice your property it may be sitting out there for months on end with dwindling visit requests and hoping for an offer that may never come. So please remember that the pricing your property correctly the 1st time is the biggest factor for getting  it sold. 

 

 

 

Price a home right