A CMA is better known as a comparative market analysis, a CMA helps determine what your home is worth compared to similar properties in the area that have sold in the last 4-6 months. In short, a CMA will help you you get a better understanding of how your home will fare against the competition.
In determining the value of your home, we’ll compare your home to homes with similar square footage, age, amenities, upgrades, condition, and those which are located in the same neighbourhood or a similar area. The more similar the features, the better the price estimation. You also need to keep in mind that CMA’s are very subjective because it may be difficult to account for things such as the home’s curb appeal or what the home’s located near (ex. across from a railroad or power station which can be less appealing). A CMA is vital in determining the best listing price.
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