A CMA, or Comparative Market Analysis, is a tool real estate agents use when coming up with a list price prior to listing the property. The general idea is to find similar properties to the one being listed, and compare their specs, attributes, and what they sold for, to help support the purposed listing price. As you can imagine, there is a ton of room for fluctuations and opinions within this process.Two different agents could come up with the same six comps, but can easily wind up with a completely different listing price after adjustments are made. Depending on the property you're finding comps for, there can be dozens of accurate comps, but a lot of Humboldt County properties are extremely unique and are very hard to find accurate comps for. There can also be the unfortunate occurrence of having a similar property, in the same neighbor hood hit the market the same week as your own! In addition, the time of year that the listing hits the market can have a significant affect on value. Humboldt's market traditionally downshifts while heading into the winter months, and then gears back up come mid-late spring. As you've likely gathered by now, a comparative market analysis is by no means a perfect science, but more of a tool to supplement an agents knowledge of the current market to convey a range of value to a seller. |