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Pricing your home

A Comparative Market Analysis (CMA) can help determine a reasonable price for your home.  This report is prepared by a licensed Realtor®.  The client is given an estimated sales price for a property based on current market conditions.  Please remember a CMA is not an appraisal!

When should I ask for a CMA?

If you do not get a CMA before you list your home you might try to sell it for the wrong price.  Setting the price too low means you’ll get less money for your home; setting it too high means it might not sell at all.  Every real estate agent in the country will want to complete a CMA on your home before helping you sell it.

How is a CMA prepared?

First, an agent will walk through your home. The home does not have to be in perfect condition. However, property condition does affect price, so if you plan to do work on the property, let the agent know.

Second, the agent will research information about comparable properties in the area.  This includes:

  •     Properties that have sold and closed within the last 6 – 8 months.
  •     Active listings – properties currently for sale.
  •     Pending sales – listings that have been sold but not yet closed.
  •     Expired listings – properties that did not sell during the listing period.

Lastly, the agent suggests a probable selling price. Don’t be surprised if a CMA results in a price range rather than a set price, particularly in markets where there are price differences due to property size, age, architectural style or physical condition.