Shorewest Shares: Understanding CMA — Comparative Market Analysis

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No two homes are alike, which makes pricing a home for sale challenging.


To help determine the right asking price for your home, your Shorewest, REALTOR® will prepare a comparative market analysis, or CMA. The CMA is a professional report that real estate agents give to their clients. Agents generate CMAs using a computer program from their multiple listing service (MLS). A CMA is the fairest, most accurate way to set your asking price. Your Shorewest, REALTOR® will show you similar homes in your area and what they recently sold for and how long those homes were on the market. The CMA also takes into account the quantity and quality of comparable homes currently on the market showing you what your competition will be.


The CMA is an analysis based on the most current information. It provides unbiased evidence of the latest market conditions as they relate to your home. You can clearly see a snapshot of the market in the CMA — that prices are going up or down, and what buyers are willing to pay.


When homes are similar in size, bedrooms, baths and location, pricing can differ by its overall condition. Clutter, dirt, overcrowded closets, pet odors or too much furniture can overwhelm buyers and cause them to view a property negatively, which will influence the price they’re willing to pay. To avoid this, your Shorewest, REALTOR® will help you stage your home. Curb appeal is also important when pricing similar homes too.


Remember, comparables are your home’s competition — the homes you use to compare to yours are the same home buyers will use for comparison as they shop for a home.


Ready to get started on selling your home? Contact a Shorewest, REALTOR® today.



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Categories: Home Buying, Home Selling

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