Preparing a Comparative Market Analysis

Active Listings

When we are preparing a comparative market analysis, we look at active listings. This gives you the number of homes that are on the market in your neighborhood that fit into the same age, size and price range that your home should be in. Your home needs to be priced in relationship to the number of homes competing. Low competition may allow for more aggressive pricing. High competition may demand more conservative pricing.

Pending Sales

When we are preparing a comparative market analysis, we look at active listings, we gives you an idea of very recent sales activity. The number of pending sales in relationship to the actives can give you a good look at how much buyer activity is currently taking place in your price range and neighborhood. Remember the prices you see for pending sales homes is not the true sales price, but the price that the home was listed at.

Sold Listings and What that means in Preparing a Comparative Market Analysis

This category gives us the track record of where homes similar to your have been selling at. It is important to remember that in a declining market these homes prices may be higher than what the market demands and in a market that is on the upswing these home prices may be lower than what the market demands.

Expired or off Market Listings

When we are looking at preparing the comparative market analysis , expired or off market listings is quite plainly what a similar home in your area will not sell for (over-priced)

All of these items are important when we are preparing a comparative market analysis for you