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The Core Components of a CMA

A thorough CMA includes several key elements:

• Property Characteristics: This involves a detailed assessment of the property’s size, location, condition, and features compared to similar homes.
• Market Trends: Understanding local market trends, such as price fluctuations and buyer demand, is vital for accurate valuation.
• Comparable Sales: Recent sales data of similar properties provides a benchmark for setting competitive prices.
• Active Listings: Current listings of similar properties help gauge the competition and adjust pricing strategies accordingly.

These components collectively provide a snapshot of the property's potential market value and allow for strategic decision-making.