Comparative Market Analysis (CMA)
A comparative market analysis (CMA) is a tool to determine your home’s range of value. There are six elements to an CMA:
a. Recent sales;
b. Current listings (your competition);
c. Opinions of other real estate professionals;
d. Current financial market;
e. Expired listings (homes that have not sold);
f. Absorption rate (how many months of supply of homes are on the market; a one month supply = a seller’s market; a two or more months supply = a buyer’s market.
It is important to read the CMA from a buyer’s perspective.
My job is to help you determine a range of value that will make it possible for you to sell your home within your timeframe. Your job is to decide the actual price at which you will put your home on the market.
Keep in mind that buyers and sellers determine value.
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