When preparing a CMA (Competitive Market Analysis) for a listing, emphasis is often put on what has recently sold. Have you ever considered how much competition is currently in the market? Use a Trend Analysis to determine how many homes match the subject’s criteria and then calculate the market absorption rate for homes like the subject in the surrounding area.
A Trend Analysis looks for similar homes located within the market area allowing you to get a clear picture of homes sold and currently available. Once you have the property listed you should review the CMA and the Trend Analysis regularly to ascertain if the competition has changed.
Learn to complete a CMA or Trend Analysis in our MRIS-U Virtual Classes available in December, sign up today!
MATRIX V102: CMA’s, Present Listings with Confidence December 21, 8:30 am – 9:30 am
MATRIX V301: Success with Stats December 21, 1:00 pm – 2:00 pm