Using The Information In A Comparative Market Analysis For Newton MA Properties

A Newton MA comparative market analysis (CMA) is a report put together by a local real estate agent to estimate the potential price range of a Newton MA piece of real estate. It is not the same as an appraisal, which targets the exact price of a home. It is crucial that property sellers understand how a comparative market analysis is created. This article provides details on using the information in a comparative market analysis for Newton MA properties.

How a Newton MA Comparative Market Analysis is Prepared

The market value of a Newton MA home is derived from what a buyer is willing to purchase it for. Since the Newton MA economy changes frequently, the traditional method to estimate current value is to view other homes that sold in previous months. Current homes for sale are not accurate estimations of value since there is no way to determine what they will eventually sell for or if they will sell at all. When preparing a Newton MA comparative market analysis, listing brokers make an effort to find similar-styled real estate and in similar neighborhoods. It is not always possible to find sold Newton MA listings that are close matches, so adjustments are actually made to compensate for differences. Age, interior space, enhancements, and other factors are taken into account. Not all home amenities add value and the dollar value of adjustments do not often match the amount paid for them.

Using The Information In A Comparative Market Analysis For Newton MA Properties

A Newton MA comparative market analysis report usually entails a price range. Where a home falls within that range depends on the amount and desirability of competing real estate on the market and your time restrictions. If you have a minimal window in which to close on your home, your selected price should be more aggressive (at either the low end or even below the price range). This is especially true if there is an overstock of home listings. In general, the higher you price your property, the more time it may take to find a buyer. In an economy where competition is low and your home is highly desirable, you may have the luxury of pricing at the upper end of the range. A competent real estate agent has the ability to help you with this decision and offer critical advice on pricing your listing properly. Incorrectly pricing a property can result in loss of valuable time and money, so refer to the expertise of a local listing agent and the factual information in a Newton MA comparative market analysis report.

I hope that you found this information on using the information in a comparative market analysis for Newton MA properties helpful. For other information on listing your property for sale, review the other articles on this website. To request a Newton MA comparative market analysis, contact Scott Beard at 617-651-0081 or scott.beard@beangroup.com.

About Scott Beard

Finding the right Realtor can be the difference between a happy, stress-free home buying or selling experience, and an unhappy, stressful experience. That’s why choosing the right Agent to begin with is key. I have helped hundreds upon hundreds of clients during my career and sold over $55 million in properties and look forward to putting my experience to work for you.
Contact me at any time. I look forward to hearing from you.

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