The answers to your home-selling questions are just one step away! Let me help you find the value of your home by running a Comparative Market Analysis.
A CMA, or Comparative Market Analysis, is a report prepared by me to estimate the value of a property using analytical data, market trends, and knowing the pulse of the current market. Here’s a breakdown:
1. Data Collection: I gather data on recently sold homes that are similar to yours in terms of location, price, and condition within your local market. I'll also examine on-market properties and homes that perhaps didn't sell and why.
2. Analysis of Comparable Sales: Next up I analyze the sales prices of these comparable properties. This involves looking at the price per square foot, days on the market, and sale-to-list price ratios and any outliers that may have been in play.
3. Market Trends: I'll examines current market trends, such as whether home prices are rising or falling, the average time homes stay on the market, and the overall demand for homes in your area. This might include data on the number of homes currently for sale (inventory) and recent sales volume.
4. Adjustments: We'll make adjustments for differences between your home and the comparable homes. For instance, if your home has a new kitchen, while a comparable home does not, we will adjust the estimated value to account for this difference.
5. Final Estimate: Using all the collected data and analysis, I'll provides an estimated value range for your home. This estimate helps you understand the potential market value of your home in the current real estate environment.
In essence, a CMA leverages detailed market data and trends to give you a well-informed estimate of your home's value, helping you make strategic decisions in the selling process.
Next up is walking through your home to address any questions and chat about what to do to get ready for market. Contact me today to book an appointment for this complimentary service.
