Before we can set a price for your home, we need to consider several things, including other homes like yours that are currently on the market, homes that have sold and homes that have not sold.
These numbers will help determine the true market value of your home, as they illustrate what buyers are willing to pay for your home.
We’ll look at things like the similarities and differences between your home and the ones in this report to get a fair market price, and then take market conditions into account when pricing your home to get the most in the least amount of time.
If all this sounds like a daunting task, don’t worry, we’re here to help! We’ve done it countless times before and we’re here to answer all your questions.
What is a CMA?
A comparative market analysis (or CMA) is a report used to determine the exact value of your home. We use similar properties in your area that have recently been listed for sale or that have not been sold at all. All these elements give us an idea of the price at which your house could sell on the current market.
Our ACM will look at what makes your property unique or what things are either better about your home or make your home less desirable compared to other properties that have been sold. These elements will affect the value of your home.
It is important to set a good price for your home, too high a price and your property could remain on the market for months. When a home remains on the market for more than 90 days, buyers may question why, which reduces interest and deters other potential buyers.
A properly priced home will ideally attract a variety of buyers, hence the importance of an ACM.