Market Value And How It Affects Your Home: What Is Comparative Market Analysis?

Even if you’re not considering selling your home any time soon, it’s wise to know the market value of your property; having a clear understanding of your home’s selling potential can help guide you in a wide range
of financial decisions. The best way to determine a property’s market value is by using Comparative Market Analysis (CMA). Let’s talk about the basics.

What is CMA? CMA is a tool used by real estate professionals to assess a home’s market value by comparing that property to similar ones recently sold in the surrounding area.

How does the tool work? CMA works by evaluating certain factors that influence a property’s value and comparing those factors to recently sold properties with similar attributes, such as location, size, condition and amenities. Real estate professionals collect data on comparable properties, analyze recent sales prices and make adjustments based on any differences between the properties. (You can also help by providing them with additional details about your home, especially if you have made recent updates to it.) The resulting price range gives you, the seller, a realistic expectation of what you could expect if you decide to put your home on the market.

Interested in learning more about your home’s market value? Contact an ERA®-affiliated agent to get started with a CMA.

Brandon Buck
Real Estate Salesperson
RB23001964 IN
ERA First Advantage Realty, Inc.
(812) 449-7539 (Direct) | ERA First Advantage Realty, Inc. (Office)
brandon.buck@erafirst.com