Competitive Market Analysis is often referred to as CMA. This is a statistical market based report that in most instances will be processed from the Multiple Listing Services (MLS). You can expect this report to encompass all “Active”, “Pending”, “Sold” and possibly “Expired” properties in your neighborhood/subdivision or community that would be appropriate comparables (comps).
Do keep in mind that depending on the strength of the current market the Agent should use appropriate time line criteria. Be sure you understand how far back with prior transactions your Agent has searched. This is only applicable to Sold & Expired comps.
From the basis of the above market information that is generated through a CMA real estate professional can offer you a broad view the of market and a price point your house would most likely sell for. Since every house is different it is extremely important to find an agent that takes the time to visit your house, run the analysis, and develop a range of which your house could, would, and should sell for.
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