A Comparative Market Analysis (CMA) is a crucial first step in selling a home. It's the process of determining the fair market value of a property being sold by examining the prices of recently sold, similar listings in the same area to get the most accurate estimate possible. This process ensures that we are listing your home competitively in your market to net you maximum ROI.

The CMA is divided into three categories — comparable homes currently for sale, comparable homes that sold recently, and comparable homes that failed to sell. By taking a look at these three factors, we can ensure we are not underpricing your home, we can get a clear picture of how the market has valued homes like yours, ad we can avoid pricing at a level that would not attract buyers.

When creating a CMA, our experts will use a number of key data points including: location, property type, year build, acreage, number of floors, square footage, number of bedrooms and bathrooms, amenities, major renovations, general property condition, comparable homes currently for sale, comparable homes that sold recently, and comparable homes that failed to sell.

What adds value to your home depends on a variety of factors — some are within your control, others are not.

For example, a hot job market that attracts new residents to your area may place a higher value on easy access to trails, parks, and highways, walkability score, and proximity to local shopping centers and restaurants nearby.

According to our research through both local and national data, improving your home's curb appeal with basic lawn care and clean up is the #1 thing you can do to improve the marketability of your home. Home staging and preparation are also key to netting maximum ROI, as well as certain home improvement projects.

Home value is the amount that buyers are willing to pay for a property, depending on a number of factors including location and condition of the home. A home valuation is simply the report stating your home's value — typically a range a high, middle, and low end numbers. Fair market value refers to the price that a reasonable buyer would spend on a property when there is no existing relationship to the seller and no extenuating circumstances to take into consideration.

It's a good idea to check on your home's value periodically to see where your local market is trending, get a good idea of how much you could sell your home for, see how your home compares to other listings in your area. You can opt in at any time to receive free market updates for your neighborhood from our experts at The Realty Shop.

It's also a good idea to start owning your home's history and value online on the popular home search websites. When it comes time to sell, potential buyers are going to look up your address and, if the internet shows your home valued at a lesser amount, you may weaken your negotiating power. Our agents can easily show you how to do this!

After you receive your online home value estimate, one of our expert real estate agents will reach out to provide you with a CMA and schedule a no obligation listing consultation if you are ready to sell your home.

If you're not ready to sell quite yet, our agents will set you up with CMA reports sent to your email at your preferred frequency, and will always be available for questions or concerns regarding your home, the listing process, and local market trends and data.