Comparative market analysis
A comparative market analysis is a comprehensive computerized market analysis of homes that can be considered similar to yours, or competitive in your neighbourhood.
Compare: two West Toronto homes
The analysis is divided into three categories:
- Similar properties that have recently SOLD
- Similar properties that have currently been LISTED
- EXPIRED LISTINGS
By carefully studying the comparable property locations, features and terms under which they are offered, we can develop a clear picture of the potential market for your property.
By looking at the properties currently listed, we can see exactly what alternatives a serious buyer has to choose from.
From the similar properties recently sold, we can see what homeowners have actually received over the last few months.
The expired listings could be as a result of overpricing or other factors.
This is a similar process used by lending institutions in determining how much they will be willing to lend you for your home.<< Understanding the buying process | Macro and micro factors affecting the price >>