Pricing Your Home.
Sold Homes.
Realtors® use the MLS, Tax Records and other online services to help them cull data of the homes sold in your area. It’s important to look at what has sold in the last year to analyze what the market says buyers will pay for homes in your area. This changes over time and with certain other market factors.
Condition.
Comparing the condition of the homes sold, including how many bedrooms, bathrooms, garage, and the year built with your home. Some homes sold might have had updates like new carpet, paint, lighting, new appliances, improved bathrooms and kitchens, which should be taken into account.
Neighborhood.
Assessing the neighborhood and location of your home in the city. When there is residential or commercial growth in a neighborhood this can help increase home values. When there is industrial growth or declining residential areas this can decrease values.
What is a Comparative Market Analysis.
A Comparative Market Analysis (CMA) is an estimate of the value of real estate using indicators taken from sales of comparable properties, such as price per square foot, combined with expert market experience and information on the importance of marketing a home properly. A CMA is not the same as an appraisal report prepared by a licensed professional appraiser.
(source: Realtor Property Resource)