![]() Examine its proximity to parks, school districts, and other amenities. If you’re not already acquainted with the neighborhood, check it out in person or via Google Street View.Īssess the overall quality of the neighborhood and identify the attractive and not-so-attractive blocks. There’s been increasing popularity of single-family rentals in North America over the past decade - almost 50,000 of them built to rent in 2020, compared to about 14,000 built in 2010. To set the right price, you need to be familiar with the neighborhood and knowledgeable about the historical, current sale, and rental value of real estate in that area. In fact, an agent’s familiarity and experience with the local market can significantly affect a CMA’s accuracy. How to Do a Comparative Market Analysis Step 1: Know the neighborhood.Ī comparative analysis involves more than just doing the math on prices for houses in your area. It tells homeowners what their home is worth in the current market, and helps homebuyers purchase at good value. ![]() It’s prepared by real estate professionals by examining the sale prices of similar properties in the area. ![]() ![]() ![]() A Comparative Market Analysis (CMA) is an in-depth report on a home’s current value. ![]()
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