The CMA and Setting the Right Price

A Comparative Market Analysis (CMA) is the tool we use to figure out the value of your property.

Performing a CMA, we consider

YOUR PROPERTY’S FEATURES

• Location
• Square footage (finished and unfinished)
• Standard features and room count
• Overall condition
• Uniqueness
• Floor plans and flow
• Quality of features

ACTIVE COMPETITION

• New and re-sale (if relevant)
• Replacement costs
• Price, location, features, and condition
• Assessment ratios
• Market activity
• Days on market

RECENT SALES

• Sold price
• Location, features, and condition
• Assessment ratios
• Time on market
• Price changes and seller concessions

MARKET CONDITIONS

• Inventory levels/supply and demand
• Macro- and micro-level economics
• Interest rates
• Consumer confidence
• Area trends and developments
• Time of year

Number crunching is just part of the story! We also apply our experience and market insight. We’re out and about—listing, showing and selling homes every week. You can be sure that we are on top of the current market, inventory levels, showing activity trends. We also keep focused on the national economic scene and world events which may impact the market. We will bring indepth experience and the relevant knowledge to the table when pricing your home.

Our goal is to determine a price that will easily attract a suitable buyer in a reasonable amount of time. My goal is not to make your feel great about the home you are selling by giving you a false sense of what it is worth or encouraging you to have unrealistic expectations. Ultimately you want to sell the home, not watch it languish on the market.

Once we have arrived at a range of values for your home, you can decide on an offering price based on your goals. Do you want to sell your home quickly? Or are you comfortable waiting months if necessary? 

It is important to price your house right from the beginning to achieve maximum price in the shortest amount of time on the market.

Remember that what you paid for the house or the profit your desire is not a factor: The market is what determines price. All in all, setting a fair price is the best marketing strategy.