Setting the right price from the start is among the most important steps toward successfully selling your home. This requires taking a close look at what other houses are selling for so that you can determine the relative value of your property. One of the key ways to compare your house to others on the market is to look at a Comparative Market Analysis, or “CMA.”

What Is a Comparative Market Analysis? Although reports can vary, standard Comparative Market Analysis reports tend to contain the following information:

Active Listings:

are homes currently for sale. These listings matter only to the extent that they will be your competition. They are not indicative of market value because sellers can ask whatever they want for their home.

Pending Listings:

are formerly active listings that are under contract. They have not yet closed and so they are not yet a comparable sale, you will not know the actual sold price until the transaction closes. However, pending sales do indicate the direction the market is moving.

Sold Listings:

are homes that have closed within the past three to six months and are your comparable sales. These are the sales an appraiser will likely use when appraising your home for the buyer, along with the pending sales (which may have closed by the time your home is sold). Study the comparable sales very closely because they are your market value.

Another function of comparable sales is that if chosen correctly, it will most closely resemble your home. For example, it is difficult to compare a tri-level home to a single-story home. Therefore, you must select homes that are mostly identical to your home in size, shape, and condition:

Similar square footage

Similar age of construction

Similar amenities, upgrades, and condition

Similar location (Location, Location, Location)

Sellers will use a “CMA” to figure out home pricing in preparation to the listing. As a matter of fact, you have probably received direct mail letters or postcards from local real estate agents about Comparative Market Analysis. These posts oftentimes offer you a free report to tell you how much your home is worth. 

Finally, where can you get the most accurate Comparable Market Analysis for your home? Henry Ford once said that it proves that you’re smarter than they are when you hire people who are smarter than you. 

Hiring Tori and Tammy Sell Homes you get a team with expertise and local area knowledge with attention to detail. Ultimately, Tori and Tammy put your needs first.

Get your [idx-platinum-system-link id=”34421-16872″ title=”Home Valuation Here” ]

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All information is derived from sources believed to be accurate, but no representation, expressed or implied, shall be taken from information herein. Subject to prior sale, change of price or terms, or withdrawal from the market. All information deemed reliable but not guaranteed and should be independently verified. Property listing information is provided for the consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints.

The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Victor Valley Multiple Listing Service (last updated 2/27/2019). Real estate listings held by brokerage firms other than real estate agency may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS.

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