Answer: CMA means Comparative Market Analysis. It is an evaluation of similar, recently sold homes prepared by a Realtor providing data which compares your property to similar properties in your market.
By checking SOLD property records that are similar to your property in the same area, a Realtor will compare these properties to your house and adjust for feature differences like size, condition, location, updates, etc.
An estimate of value is then determined for your property. This would allow an assessment of the current competition and might lead to an increase or decrease in the estimate based on the data found. This is the best way to determine the best listing price for your home with an in-depth analysis of a home's market value in today's market, using closed transactions of comparableproperties.
The CMA process takes place before your home is listed for sale. This will give a good assessment of what your house could potentially sell for and establishes a fair pricing guide.
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Larry and Sheila are Realtors with Charles Rutenberg Realty and when you are ready to buy or sell your home on the North Shore Of Long Island, please contact us at 631-805-4400.
Email: firstname.lastname@example.orgIf your home or condo is listed with another broker, this is not a solicitation of the property.All The Information Is Not Guaranteed And Must Be Verified By The Prospective Buyer.