What is a Comparative Market Analysis

A Comparative Market Analysis will provide you with the information you need to set a value on the home you own. CMAs are written reports comparing the prices of recently sold homes that are similar to yours in terms of location, style and amenities. CMA's often include information on properties currently for sale plus the properties which failed to sell.

Your professional Real Estate Agent will do a study/analysis for you to determine the best pricing for your property. There are several factors involved in making the process work. The first step your agent will take is to gather the information on your home, i.e. Tax data, survey, measure your home and do a thorough profile of its features. Second, the agent will collect information on the current market activity, which simply put, is your competition. Past closed sales as well as pending sales and expired listings are also studied thoroughly for marketing trends. Third, The professional agent will make recommendations based on these findings as to pricing your home for the current market.