What is a CMA?
A Competitive Market Analysis (CMA) uses information available through the Multiple Listing Service to estimate a market value range for a property based on the recent action of buyers and sellers in the marketplace. I will analyze and evaluate the following factors when estimating the market value of your property:
Successfully Sold Homes
Lists the selling price of recently purchased homes comparable to yours. This is the most important information when establishing a realistic selling price.
Competitive Properties Currently on the Market for Sale
Homes on the market that compete with your home. Since they are not yet sold, the market value is undetermined, but they are important, as buyers most likely will view and compare these properties with yours.
Homes that are "under contract", but have not yet closed are pending sales. Since they have not yet closed, the market value is undetermined, but they are a good indicator of value in the current market.
Failed to Sell
Properties that were "for sale" but failed to sell. The listed price of these homes may suggest what potential buyers will NOT pay.