Thinking of selling your home? Let me provide you with a free comparable market analysis of your home, which will identify how much your home could be sold for in the current market.
When thinking of selling your home one of the first steps to take is to find out how much your home is worth. This can be done by paying for a home valuation from an appraisal company or asking a Realtor to perform a CMA.
A CMA (Comparable Market Analysis) is calculated using several different criteria and is then used to come up with the listing price. The following are some of the criteria we can use to determine the recommended listing price.
Recent Sales
We look at recent home sales in the area for similar properties to yours. If no exact matches can be found then we look at the closest matches and then apply adjustments for key differences (for example, more or less bedrooms, square footage etc.).
Home Condition
While 2 properties maybe identical in terms of size, number of bedrooms etc., one may have been updated or be in better condition. This needs to be taken into account when valuing the home.
Location
Adjustments are made based on the property’s location, for example a home next to a busy road will often sell for less.
Market Conditions
In a hot real estate market we may price the home above recent comparable sales.