Your property’s value is more than just a number. Pricing it right from the outset is not just a strategy – it’s the key to a successful sale.
Pricing it right from the beginning – precision meets market insight.
At North Point Realty, we take pride in crafting Comparative Market Analyses (CMAs) for sellers. We research the art and science behind CMAs – they are the compass guiding you to the perfect listing price.
Let’s set the stage for a lucrative sale by understanding the heartbeat of your property’s market value.
A Comparative Market Analysis (CMA) is a report to help you evaluate current market conditions and determine a reasonable price range for your property. Pricing it right is critical for success.
This report compares your property with similar properties currently or recently on the market, taking into consideration location, size, age, condition, and terms. Analyzing the data can provide you with a suggested list price that is in line with current market trends and conditions. The CMA is divided into three categories:
- Currently For Sale or Pending quickly shows you the inventory of houses that a buyer has to choose from today, and how your property compares.
- Recently Sold is the most powerful data because it represents successful transactions – you can see what other sellers have received for similar properties.
- Failed to Sell gives insight into what the market is NOT willing to accept.
The CMA is the most important real estate tool available to help you make an informed decision about pricing your home for sale.
Let’s get started!
Price it Right – From the Beginning
Believe it or not, some people actually ask too little for their property! However, overpricing is the most common mistake.
We all want the highest and best price – but overpricing can backfire. It takes longer to sell and often results in a lower price:
- You get the best potential buyers early in the process – so price it right!
- Your property will drop from online search results if not priced accordingly.
- Pricing your house too high will scare off buyers.
- Overpriced property can have appraisal issues.
- Your house may convince buyers that the “other house” is a bargain.
- Price Reductions create questions “…what’s wrong with this house” and
“..is the seller desperate?” resulting in no or lowball offers.
- Your property will take longer to sell.
- You may end up with a lower sales price than if priced correctly.
- Overpricing can significantly add to your stress level when selling.
Evaluating the CMA for your property is key to pricing it right. We look at current market conditions that will help us avoid overpricing – or underpricing – your property.
Don’t just list. List wisely.
What's My Home Worth?
Tell us about your property - a North Point agent will get back to you right away with a FREE CMA.