Whether you are buying or selling a home, your real estate professional can give you a snapshot of the local market known as the competitive or comparative market analysis or CMA.
CMA’s are generated from multiple listing service data. They’re convenient reports that help sellers choose a listing price and buyers to make offers on a given home.
CMAs vary greatly depending on the search parameters that are input by the real estate professional, by type of home (detached vs. attached), zip code or street, number of bedrooms, baths and living areas, square footage, and numerous other search criteria.
They also tell you which homes have recently sold - six months, three months, one month - and which homes are currently on the market in the area and price range you’re interested in. As many fields of information as there are, some criteria simply can’t be listed in a CMA. If the MLS has a field for “ocean views,” you’ll know. But if not, you’ll have to learn more in the remarks section that is filled in by the listing agent. There you might find “great views.” But who is to say what makes a great view?
It is always a good idea to speak with a realtor about the CMA value of your home. If you would like a free CMA , have questions on Comparative Market Analysis (CMA) or any part of the home selling process please, Don't hesitate to Contact Me!