In addition to looking at the factors such as location, property conditions, etc., it is necessary to analyze the market conditions and competition to come up with a market value for your home, as well as a recommended listing price.
In order to lay this information out in an easy-to-read and easy-to-understand format, a Comparative Market Analysis is used. This Analysis is divided into 4 sections as outlined below:
1. Sales (Market Value) - a detailed listing of houses in your immediate area with similar amenities which have sold within the last 6 months.
2. Expireds (Out of Range) - a detailed listing of similar houses in the area that have expired in the last 6 months.
3. Active Listings (Top of Range) - a detailed listing of similar houses in the area that are currently on the market.
4. Summary - includes a summary of all date, comments on market conditions, suggested market value and listing price.