To help sellers understand the value of their property relative to what the market will support in an arms length transaction given current market trends and activity. It should be noted that this process does not constitute a certified appraisal.

A market analysis helps sellers gain an objective overview of the value that buyers place on homes in comparable size and with comparable amenities. This allows sellers to understand the value the marketplace puts on similar properties and thus price their home according to what the market will bear. In addition, it generally helps sellers evaluate their home objectively and may expose areas that could be improved or changed to maximize the amount they are able to sell for.

A market analysis is generally completed by assembling at least 3 comparable sales from the last 6 months in a given neighborhood or marketplace. It is most valid when the marketplace is stable and there are comparable sales that very closely match in terms of size, amenities, class and year of construction, and similar location. If comparable sales are included that deviate from those parameters, adjustments must be made to the value that sale. We use a standardized program in each office to achieve those valuations. Once adjustments are made, the three comparable sales are averaged and compared to the subject home.

A market analysis generally provides a "snapshot" of a home's value at a given point in time. You should ask your Realtor about the marketplace he or she works in to determine the market conditions. Changes in interest rates, status of major employers, many houses coming on the market at one time, changes in the economy, and many other issues may cause significant changes in the value of your home. Ask your Realtor to keep you informed of any changes in the market that may affect the potential sale of your home.

Completing a market analysis helps your realtor understand your property more completely. It helps them understand what the buyers in their marketplace are looking for and where they place value. It gives them direction in how to advise you, in how they may change their marketing strategy to more effectively sell your home, and it may help them understand who the buyers of your property might be (ie. It may help them match specific needs of families to amenities found in your home).

A market analysis is a service provided by our Realtors. It is one more reason to use a Real Estate Professional!