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What Is a Competitive Market Analysis?
Manage episode 167599712 series 1322783
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We’re often asked what a ‘competitive market analysis’ is. Basically, it’s an analysis that real estate professionals perform to come up with a price and strategy to get a home sold for the best price and on the best terms and conditions.
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What is a competitive market analysis, exactly? We get this question a lot. Basically, it’s our way of coming up with a pricing strategy for getting your home sold for the most money as well as on the best terms and conditions. We compare your home to houses in your area that are currently active, pending, or have sold in the last six months.
Going back six months lets you see more data and trends.
Many people say you should only use listings that have sold in the last 90 days, but I completely disagree with that. If you look back six months, you are able to see trends in the market and get a better idea of the average days on market and use that to come up with a strategy for getting your home sold quickly.
Hopefully, that answers any questions you have. If you have more questions or you’d like more details, give us a call or send us an email at the office. We’d be happy to help!
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