Your Home
How does it
measure up?
Whether buying, selling or refinancing, you want to determine a fair price
for your home. How do you know when fair is fair?
A Comparative Market Analysis (CMA) is an important tool that can help you
Determine the estimated value of your property by comparing “apples to apples.”
Since market value is determined by what a willing-and-able buyer will pay, a
CMA can establish market value by comparing it to similar properties that have
sold in the area within the past year.
IF YOU ARE A SELLER, A CMA CAN
WHAT TO LOOK FOR IN A CMA
HELP YOU DETERMINE:
To get a complete picture of your local
real estate market, have a real estate

Recent selling prices for homes similar professional bring you up to speed with
to yours.
a CMA. The data in the CMA report
should include:
 The length of time these homes were
on the market before they sold, and the
length of time it will likely take for your
home to sell.
 The homes you would be “competing with”
should you decide to put your home on the
market right away.
If you are a buyer, a CMA can help you
Decide what to offer on a listing you want to
buy. If you are refinancing, a CMA will give
you some indication of what to expect when
you have your home formally appraised.
185 Ontdekkers Road
Horison Park
Tel: (011) 279-7030 - Michael
Fax: (011) 760-6026
Cell: 076 491 5411 - Michael Mafoko
E-mail: michael@remax2000. co.za
www.remax2000.co.za
Determine if there were multiple offers ,
if the listing took months to sell, or if the
Sellers had to lower their price to attract a
buyer. This category should include only
listings that have “closed”, that is, when
the title of the property has changed hands
from seller to buyers.
 Currently available comparable
listings. If you are selling your home,
this is your “competition.” Remember that
how you price your home relative to the  Expired listings. These are listings that
did not sell during the listing period and
competition is critical to your success.
usually indicate the market’s “high water”
It’s also a good idea to visit open houses
mark. If a home doesn’t sell during a listing
in your area to see how your home
period, it’s likely that is was priced too high
compares aesthetically.
for the market. Analyzing this data will help
 Pending sales. These sales represent
you avoid the dangers of overpricing your
home, as demonstrated in the graphic on
the most recent sales activity and will
page two.
serve as “benchmarks” for the price of
your home. When analyzing this data,
your real estate agent will likely disregard Buyers and sellers in the South African can
find listing information by visiting their
rumours about homes selling for inflated
country courthouses, but conducting a
sales prices. The actual sales price, which
CMA on your own is often complicated and
might not be made public until after the
time-consuming. Why not save yourself the
sales closes, could be quite lower than
trouble and ask your real estate agent to
Anticipated.
conduct the analysis? He or she has easy
access to local listings and sales data, and
 Sales that occurred within the last
your real estate agent’s familiarity with the
6 months. Your real estate agent will
analyze these sales to determine current local market can affect the accuracy of a
CMA, particularly in a neighbourhood with
market conditions, but if the market is
a lot of market variability.
Changing rapidly, he or she might shorten
the time frame to three or four months.
For each listing in your CMA, your real
Estate agent might find out how long it took
to find a buyer for the home and