What’s in a Comparative Market Analysis (CMA)
Our primary goal in preparing a CMA is to determine the most accurate value of your home at a particular point in time. To do this, one must have a thorough understanding of the local real estate market, combined with the experience and expertise to make the necessary adjustments when comparing recent sales.
The most relevant characteristics to consider when preparing the CMA are size, age, location, improvements and condition. Setting the right price from the start is among the most important steps toward successfully selling your home.
Active listings are not nearly as valuable as actual recent sales in determining market value, as active listings only matter to the extent they are competition for buyers. But they are not indicative of market value because sellers can ask whatever they want for their home, but it does not mean the prices are realistic. The offered sales prices do not reflect market value until the home actually sells.