If you’re thinking of buying or selling a home and want to know how much homes cost in the area, you’ll need to run a comparative market analysis. Basically, you will determine the property’s value by comparing it with similar properties in the neighborhood that are currently listed for sale or have recently sold.

  • Assess the Home and the Neighborhood

    The first step is to write down the essential characteristics of the property, such as its square footage, number of floors, number of bedrooms and bathrooms, construction age and amenities such as gardens, fireplaces, decking and swimming pool.

  • Find Comparable Properties

    We review the active listings and recently sold property listings to find homes that are similar in size, age and amenities to your property within a radius of 1 or 2 miles from your home.

  • Crunch the Numbers

    Take the selling price or list price for each comp you’ve chosen and divide it by the home’s square footage to give you a price per square foot for each comparable home. Next, calculate the average price per square foot.

  • Adjust for Special Features

    The final part of the analysis is more art than science, since you’ll be adjusting the property’s baseline value to take account of the home’s special features. If the home is in poor condition, for example, this could reduce its overall value compared with the sales prices of homes that have been well-maintained over the years.

WorldCUP-Realtors have the experience and knowledge of the local area real estate market trends to assess your property accurately.

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