Florida market analysis terms you should know.
October 21st, 2008 by admin
- Days on the market or DOM is the time spent from your initial listing contract date to the time you receive and accept an offer.
- CMA or Comparable Market Analysis is the process of comparing your home to similar home of size and location currently for sale and have recently sold.
- Adjustments are what is used to arrive at a value of your home when compared to similar homes. As an example if your home has 3 bedrooms and the comparable home has 4, an adjustment will be made reducing the list value of your home by a set amount given to the comparable home for the extra bedroom
More terms to follow. If you would like a market analysis of your home’s position in today’s market, call or email me.