Charlottesville Home Selling Resources
Price Your Home Right with a Comparative Market Analysis
One of the most important tools that our real estate professionals use to identify your home's value is a Comparative Market Analysis (CMA). A CMA is a detailed report of your home's market value that considers the sale price of homes that are similar to yours, current market activity in your neighborhood, and buyer demand for certain home improvements.
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Have you made any recent improvements to your home? Let us know — they may significantly boost your home's value! Fill out the questionnaire below to tell us more about your home.
FAQs About CMAs
If you're like many Charlottesville home sellers, you have a few questions about your home's value: How do I know what my home is currently worth? What's the best pricing strategy? How do I sell my home fast and for more money?
We hear questions like these a lot, so to help you better understand your home's value and how it's calculated, we've provided answers to the most commonly asked questions. Have a question that didn't make our list? Give us a call at (434) 296-9860.
How Does The Chase Team Calculate My Home's Value?
When we develop a Comparative Market Analysis, we complete a thorough, on-site inspection of your property and collect data from listings that are similar to yours. The data we analyze typically include:
- sales prices of homes that sold within the last 3-10 months
- asking prices of homes currently on the market
- prices of homes under contract
Once we have reviewed and compiled this data, we will present you with a detailed analysis so you can have an accurate idea of market conditions in your area.
What Is the Best Pricing Strategy?
Ultimately, pricing your home at market value — not too high and not too low — will ensure you earn top dollar for your home while spending as few days on market as possible.
But it's also important to consider timing in your pricing strategy. Your initial asking price is often the best; after all, your home receives the most attention in its first few days on the market. The longer your home stays on the market, the more buyers will think there is something wrong with it. After we provide you with a Comparative Market Analysis for your property, we are more than happy to offer you guidance about a pricing strategy.
Why Is It Important to Compare Similar Properties?
Since no two homes are exactly the same, similar properties are the best way to determine how much your home is worth. We consider homes to be "similar" if they have around the same square footage, number of bedrooms, number of bathrooms, etc.
Want to see what homes are on the market that are similar to yours? Explore Charlottesville and Albemarle County neighborhoods to find out what your neighbors are selling for, or view a snapshot of the Charlottesville real estate market here.
Is a CMA the Most Accurate Home Value Tool?
We get this question a lot: "I've seen plenty of other home value tools out there. What makes yours unique?"
That's true, there are dozens of home evaluations out there that look just like the home value tool at the top of this page. But many of these tools come up with a price that's based on outdated or incorrect information. They also use a formula rather than an understanding of current local market conditions.
At The Chase Team, we've had years of experience helping people sell homes and condos in Charlottesville, vacation homes at Wintergreen Resort, and farms and estate homes in Albemarle County. We have become experts in the local real estate market, so we have the knowledge and resources to establish a listing price that will make sure your home sells quickly and for more money. So to answer this question: yes, our CMA is the most accurate home value tool.
Have you recently renovated your kitchen? Installed a new roof or HVAC? Added a swimming pool? Your recent home improvements can have a significant impact on your home's market value. Please provide us with as much information as you can — that way, we can determine the best asking price for your home.