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What Is a Competitive Market Analysis?
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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 price and structure for getting your home sold for the most money on the best terms and conditions. We look at houses that are currently active, pending, or have sold in the last six months.
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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 can see trends and get a better idea of the data that is out there, see the average days on market, and come up with a strategy for getting your home sold. Going back six months lets you see more data and trends.
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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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