Find Your Perfect Home

Comparative Market Analysis (CMA)

People moving in with sold sign

You can think of comparative market analysis (CMA) like a simple tool. Essentially, it can be used to round up properties in the area that are similiar to your property and help determine the value of the home. There are a handful of components that go into the value and price at which you sell your home.

The probability of receiving an acceptable offer on your property and completing a sale diminishes significantly when your asking price is higher than the current market value. To keep your asking price within the current market value range, we analyze all the factors that affect your property's value in today's real estate market. The factors include:

  • Your Hudson Valley property and its strongest selling points:
    • Location
    • Condition of property
    • Size of home
    • Size of homesite
  • Buyer demand
  • Seller motivation
  • Financing availability and interest rates
  • The comparables - recent selling prices of comparable homes in your neighborhood
  • The competition - the asking prices of other homes for sale in your area
  • The expired listings - homes offered for sale that did not sell

The asking price of your property should be based on the information the marketplace provides and your comfort level. After searching all factors involved, your Berkshire Hathaway HomeServices Hudson Valley Properties real estate professional will suggest the price range that will be competitive and spark maximum buyer activity. With this information, you can make an informed decision about your asking price.

What Factors Influence the Pricing of Your Home?

The Hudson Valley real estate market is constantly fluctuating, so pricing is not an exact science. Rather, it's a reasonable figure derived from a number of different components, such as:

  • The status of the current real estate market
  • The expertise and market knowledge of your real estate representative
  • Hard facts such as lot size, square footage and condition of your home
  • Desirability factors, including location, special amenities and property attributes
  • Selling and listing prices of comparable homes
  • A thorough real estate marketing plan
  • Your level of motivation

It's important to note that the following conditions do not affect your home's price:

  • The profit you wish to make from the sale
  • The amount of money you've spent on improvements
  • What other sources, such as friends and appraisers, have told you it's worth
  • What you originally paid for the home