What Is a Comparative Market Analysis?
Comparative market analysis is an examination and analysis of the prices at which relevant properties in the same area recently sold. Real estate professionals perform a comparative market analysis for their clients to assist them in determining reasonable price when selling a property or preparing offer when buying a property.
When is Comparative Market Analysis necessary?
Before listing your property, your Realtor must prepare a CMA to get an overall sense of the market value. Having a CMA on hand prepares them to address any questions you may have about the market. After meeting your Realtor, he must run an updated CMA, incorporating what they learned when visiting the neighborhood and touring the property. Adjustment maybe necessary if there is material variation on the quality andcondition of the property.
CMA is not only useful to sellers., it is also an important tool for buyers. It is recommended that you request CMA from your realtor to find out if the real estate you are interested in is a good deal? A CMA can help you determine if a property is priced right!
Whether you are buyer or seller, you may request CMA from this webpage. Just submit the required info on the above form and you'll receive your CMA shortly.