-
What is a Competitive Market Analysis?
A Competitive Market Analysis (CMS) uses information available through the Multiple Listing Service (MLS) to estimate a market value range for a property based on the recent action of buyers and sellers in the marketplace. Ebby Halliday, REALTORS® analyzes and evaluates the following factors when estimating the market value of a property:
Successfully Sold Homes
Lists the selling price of recently purchased homes comparable to yours.
Competitive Properties Currently on the Market for Sale
Homes on the market that compete with your home. Since they are not yet sold, the market value is undetermined, but they are important, as buyers most likely will view and compare these properties with yours.
Pending Sales
Homes that are under contract but have not yet closed are pending sales. Since they have not yet closed, the market value is undetermined, but they are a good indicator of value in the current market.
Failed to Sell
Properties that were fore sale but failed to sell. The listed price of these homes suggests what potential buyers will NOT pay.
For more Real Estate Seller’s Tips click on the links below.
- What We Will Need to Get Started
- How to Show and Sell Your Home
- Seller’s Home Features Worksheet
- Seller’s Disclosure Notice
- Pre-Sale Home Inspection
- Steps to Selling Your Home
- Pricing Your Home
- What is a Competitive Market Analysis?
- The Pricing Pyramid
