Comparative Market Analysis
Learn what a Comparative Market Analysis (CMA) is, what Crane Realtors® puts into the creation of one, and how it can shed light on true value of your specific real estate transaction.
A competitive market analysis is an analysis of homes sold, active, and pending adjusted to your homes specific features. The report will extrapolate the homes value based on recent activity of other properties. This is a detailed report which takes several hours to prepare after a visit to the property you intend to sell or purchase. It is extremely important for an agent to physically visit your home and note features, improvements, measure, and denote all aspect of the property as each one is unique.
Our agents spend countless hours assessing your property onsite, locating suitable comparable properties to analyze from multiple sources, and line adjusting the data to make properties on par with each other. Once this process is complete the values fall into place, give an exceptional insight into the realistic arms length transaction value, and provide the path to a successful real estate transaction.
The purpose of the comparative market analysis is to detail the differences of the best like kind properties. In conjunction with detailing the differences, we additionally value the the detailed differences and either subtract that value or add that value to the properties used in the comparison. Once thoroughly completed the adjusted values provide the estimated value of your property.