Factors That Contribute To Establishing Market Value

A Competitive Market Analysis (CMA) is prepared from information available through the Multiple Listing Service (MLS) to estimate what buyers would be willing to pay for a property based on recent actions in the marketplace.

At Allen Tate Realtors, we evaluate the following factors to establish market value:

RECENT SALES

These are properties whose selling prices reflect what qualified buyers most recently paid for properties comparable to yours. (S L D stands for sold.)

FAILED TO SELL

These are properties recently offered “For Sale” but failed to sell. Listing prices of these properties suggest what potential buyers will not pay. (W T H stands for withdrawn or EXP stands for expired.)

PENDING SALES

These are properties currently under contract, but not closed. Pending sales can be useful in identifying listing prices that encouraged buyers to make offers. (C N D stands for conditional, C T G stands for contingent or P N D stands for pending.)

COMPETITIVE ACTIVE LISTINGS

These are properties that will compete with yours in the market. Since they have not sold, their market value is not determined. (A C T stands for active.)