Comparative Market Analysis

A CMA will provide you with a price range for your home based on the current market conditions:

• Your home: condition, features, amenities, location
• Recent sales in your neighborhood
• Mortgage rates
• Current inventory and demand
• Market trends

How does an appraisal differ from a CMA?

An appraisal is a detailed evaluation of a property by an appraisor for a mortgage institution to determine value for a loan. An appraisal costs about $300 for the average home.

A CMA is a formal evaluation of a property by a realtor to determine the best price obtainable for a property as determined by the market. Most realtors offer free CMAs.

How is the value of a home determined?

Your house has many values: one to the tax assessor, others to your lender and insurance company, and yet another value to you, the owner. It also has different values to prospective buyers depending on their needs, desires, and financial resources. This is called the market value.

The CMA focuses on properties currently on the market that are competing for the attention of the buyers. In addition, we examine recently sold properties and those that did not sell. These properties tell us what buyers in the recent past were willing and not willing to pay.

With more and more buyers searching for homes on the MLS from their own computers, pricing a property to sell is extremely important.

A property is only worth what someone is willing to pay for it!

Our job as realtors is to help you arrive at a fair and realistic price for your home. Once we have agreed on a price, we can begin the process of marketing and staging your home. Both are equally important.

Marketing your home means putting our resources to work for you to attract many potential, qualified buyers to your property. Staging your property helps sell your property to those buyers for at or near the asking price.