Ready to sell? How to make sure your price is competitive

If you are considering selling your home in Anacortes … how would you determine the right selling price?

Setting the right price from the start is one if the key steps toward successfully selling your home. After deciding which real estate agent will represent you, (see tips on interviewing agents here) an important tool that your real estate agent will use is the Comparative Market Analysis.

A real estate agent gathers information to produce a comparative market analysis, or CMA, to determine an approximate fair market value of your home. The CMA, also sometimes referred to as “comps”, helps determine the estimated value of your property by comparing similar properties to your own. Ideally, your real estate agent finds recently sold properties in your area of the same size and roughly same age and with the same number of bedrooms and baths. Price per square foot is also often used to account for differences in size between properties.

The CMA assists in establishing market value by comparing properties that have sold in the area usually within the past year, current listings, and pending sales. Your real estate agent then uses the comparable prices to figure out an estimate of the right selling price for your home. The asking price of your home will determine how many people will look at the property. The higher the price, the fewer potential buyers.

An experienced real estate agent will prepare a good CMA  that will tell you:

  • what homes like yours are actually selling for
  • how long it’s taking for them to sell
  • what the sale prices are in relation to the list prices

If you are wondering what the current real estate market is in your neighborhood, we can help bring you up to speed with a customized CMA report for your home. The data of a CMA will include: currently available comparable listings, pending sales, sales that occurred within the last 6 months to a year and expired listings.

A CMA is only good as its data, save yourself the trouble and time consuming efforts. Let us assist you with a CMA report for your home to insure the most accurate and fair pricing to sell your home in Anacortes this year.

Feel free to give us a call if you have any questions or for a FREE no obligation market analysis. We will be happy to help you determine what the fair market price is for your home in Anacortes,WA.

Jean Groesbeck at 360-941-3734 or  Jean@JeanGroesbeck.com