Master the Hidden Secrets of Comparative Market Analysis
Real-World Applications and Examples
Consider a scenario where a homeowner is looking to sell a three-bedroom house in a suburban neighborhood. By conducting a CMA, the real estate agent identifies three similar properties that have recently sold, each with slight variations in features and upgrades. After making necessary adjustments, the agent determines a competitive listing price that aligns with current market conditions. This process not only aids in setting realistic expectations for the seller but also attracts serious buyers who recognize the value proposition. According to the National Association of Realtors, homes priced correctly based on CMA data tend to sell faster and closer to the listing price1.