Understanding A Comparative Market Analysis For Your Amesbury MA Home

A comparative market analysis (CMA) is a report compiled by a local real estate broker to figure out the possible price range of a Amesbury MA home. It is not a bank appraisal, and done by your Realtor.

How a CMA for YOUR Amesbury MA Home is Compiled

The current value of a Amesbury property comes from what a buyer is willing to offer. Since the Amesbury MA real estate market changes regularly, the traditional method to estimate market value is to compare it to other properties that sold in previous months. Active homes on the market are not valid reflections of value since there is no way to know what they will eventually sell for…or if they will sell at all. When compiling a CMA for your Amesbury MA home, listing brokers try to find comparable homes and in similar neighborhoods. It is not always possible to find sold real estate that are exact matches, so adjustments are traditionally made to account for differences. Upgrades, square footage, features, and other factors are taken into consideration. Not all differences add value.  The cost of upgrades do not always match the return on investment.

Why You Need A CMA For your Amesbury MA Home

A CMA report normally results in a price range. Where a home falls within that range depends on how many homes are on the market and the quality of competing listings and your time restrictions. If you have a short time frame in which to sell your home, your selected price should be more competitive. This is particularly true if there is an large volume of listings. Typically, the higher you price your home, the longer it may take to sell.  A knowledgeable real estate agent could assist you with this decision and provide useful advice on pricing your listing correctly. Incorrectly pricing a property may lead to loss of valuable time and money, so refer to the expertise of a your local Wellsco real estate agent and the factual figures in a CMA report.

I hope that you found this information on why you need a CMA for your Amesbury MA real estate useful. For other information on listing your property for sale, review the other information on this site. To request a CMA for your Amesbury MA home, contact John P. Wells by calling 978-609-4948 or email customerservice@wellscorealty.com.

About Editor-John P. Wells

I am a resident of Newburyport and have worked in education, high tech and urban development. My interests in architecture and construction are invaluable to my clients. For more information please visit the Wellsco website.