Why No Two CMAs Are Alike

Dated: 07/12/2017

Views: 137

Determining the value of your home

Whether you’re a buyer or seller, your agent will prepare a comparative market analysis(CMA) based on similar homes within a given search area, using size, age, features, condition and location, whether the homes have sold recently and which are currently on the market.

Buyers use CMAs to help them make offers while sellers use CMAs to help them price their homes for sale or to adjust the price. As soon as a home sells or a new home comes on the market, the previous CMA is no longer relevant and your agent can generate a new one for you.

Prices may vary widely - even between identical homes. One property may offer better drive-up appeal or more extensive updates. CMAs differ widely by search perimeters like number of bedrooms, views, swimming pools, or a broader search area.

There’s no knowing why a seller undersells or a buyer overpays. Family pressures,corporate relocations, and other reasons won’t be in the CMA. Instead, consider how quickly homes are selling, whether they sold for list price or above, or whether homes are experiencing price reductions. Your agent will explain how home sales are trending and what strategies may work best for you.

Contact Berkshire Hathaway HomeServices Select Realty to learn more about properly pricing and preparing your home for a successful sale.


Blog author image

Dan Lesher

After 15 years in sales, Dan Lesher began his career in real estate in 1997 with the goal of providing superior customer service, inspired by his own experience with lackluster real estate agents. Ove....

Latest Blog Posts

Irish Real Estate Team Launch

I am so excited to take the next step in my business.  I am forming a team that is going to maintain my high level of customer service standards.  The ability to help more people with the

Read More

Right Around The Corner

Love all the energy on Facebook and out in public when we have a warm day in the middle of winter, especially this winter with the deep freeze temperatures.  I know there's more

Read More

Trim The Fat

ORGANIC FOOD ON A BUDGETOrganic food usually tastes better, and is better for you, but it can also be very expensive compared to non-organic products. Organic food can cost nearly 50 percent more,

Read More

Homes For Homeschoolers

Homeschooling is the practice of providing children with some or all of their kindergarten through 12th grade education at home, as opposed to in a public or private school setting. In 2012,

Read More