Before putting your home on the market and setting a price it is important to first have an estimate of your home’s value. This can be easily accomplished by having an experienced real estate agent provide you with a Comparative Market Analysis.
A comparative market analysis, or CMA, is an evaluation of a home’s value based on available local market data including:
- How much homes similar to yours have sold for recently.
- How long these homes were on the market before they sold.
- How fast you can expect to sell your home at your desired asking price.
- What your “competition” would be, should you decide to put your home on the market right away.
The real estate professionals that will provide your CMA do this with the anticipation they will be given the opportunity to list and sell your home if and when you decide to place it on the market. In addition, your CMA will be provided to you at no cost and without obligation.