The Moulton Company
Real Estate Brokerage
7146 Rivers Edge Road, Columbia, Maryland 21044
Office: 410 531-5890 | Cell: 410 615-3655 | Fax: 410 531-8997
A Comparative Market Analysis determines the market value of a property based upon three active listings and three listings sold in the last 6 months or up to a year if needed to find three comparable sales and three comparable listings. A comparable property (listing and sale) has an above ground living area within 15% of the above ground living area of the subject property. It is an equivalent type of property e.g. CONDO Vs. detached-fee simple) and is located within one half to one mile of the subject property. In cases of unique properties these guidelines may be stretched to permit finding a comparable property. The distance is adjusted first, then the living area and finally the date of sale. Homes under contract may be used in cases of strict necessity because their true sale price has not been recorded.
The CMA presents the price at which a property should, given current market conditions, sell. A CMA should have an accuracy of plus or minus 5%. Often it takes hours to prepare a CMA particularly if it is difficult to find comparable properties.
Realtors ® prepare CMAs for both Sellers and Buyers. The CMA is used by both Seller and Buyer as a guide for negotiating the final sale price.
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