A Comparative market analysis (CMA) is a detailed report explaining what the value of your home is in current market conditions. This report is free, confidential and has no obligation what so ever. A comparative market analysis (CMA) is usually ordered when home owners are a bit more serious about selling their home and want an accurate pricing estimate.
How long does it usually take?
It doesn’t take very long to pull the comps, do the research and generate the report. Usually the part that takes the longest is scheduling a time that works for all parties to walk-thru the home. After that, the full report can be finished and left at the house that day.
Does a Realtor need to visit my home?
Yes. If you want a fully accurate price of your home a Realtor will need to walk-thru your house. This let’s us see the house, assess any damage, make recommendations to increase the value or the salability of the home and get a better feel for your situation. We can also generate a CMA with out visiting your home, it just won’t be 100% accurate.
What will be included in my CMA?
Your report will have your property details, any old MLS sheets, tax record and sales history. We will also show you a list, with images, of all the comparable homes (comps) that have sold in your area. We usually only go back 6 months with comps. Sometimes we will need to go back further if the market is slow or there isn’t an adequate amount of sales in your neighborhood. Finally, you will receive our opinion of what your house could sell for.
Usually after we meet and go over the CMA it’s time to figure out what the best course of action is. If you are ready to list your home at that point, we will start the process of listing your home. If you’re still undecided or still need a little time, we will give you a list of recommendations that you can do to either increase the price or help sell your home faster in meantime.