How to Do Market Research for Your Home Market Analysis

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Pamela Harris

Key Steps to Real Estate Market Analysis

  1. Research neighborhood quality and amenities. …
  2. Obtain property value estimates for the area. …
  3. Select comparables for your real estate market analysis. …
  4. Calculate average price of comparable listings. …
  5. Fine-tune your market analysis with adjustments to your comparables.

What is a Real Estate Market Analysis?

A real estate market analysis is often called a comparative market analysis (CMA). It’s basically an analysis of the current market values of properties, comparable to a property you are looking to buy or sell. A CMA is a helpful tool to determine the market value of your own property, especially if you are trying to decide an accurate selling price prior to listing.

Something important to note is that a real estate market analysis is different than an appraised value, which is determined by a professional appraiser. A comparable market analysis is considered subjective and gives the seller information on the value of similar houses in the area.

While there are many factors to take into account when performing a real estate market analysis, it is completely manageable with an organized approach.

Your real estate agent may conduct a CMA for you to determine what price to list when selling or a price to offer when buying a home. Because no two properties are exactly the same, adjustments must be made to account for differences.

Baltimore Real Estate Market 2020: HOUSING Forecast & Trends

How to Do a Real Estate Market Analysis – 7 Steps

  1. Step 1- Property Analysis. …
  2. Step 2- Assess the Original Listing Price. …
  3. Step 3- Check Property Value Estimates. …
  4. Step 4- Search Comps. …
  5. Step 5 – Determine a Price Range. …
  6. Step 6- Assess the Home in Person. …
  7. Step 7- Decide the Market Value.

Is Baltimore a sellers or buyers market?

Baltimore is currently abuyer’s real estatemarket. The supply is exceeding the demand, giving purchasers an advantage oversellers in price negotiations. In other words, there are more homes for sale than there arebuyers in the marketplace. Follow us for more details Please.
 
The state of the market. In Baltimore, the COVID-19 pandemic made a long-lasting impact on many sectors of the local economy, while inadvertently enhancing some. … In Baltimore, the real estate market is booming because of record-low interest rates. At present, the real estate market is a top performer.

What will the housing market look like in 2022?

Baltimore Real Estate Market 2019: Why and Where to Invest | Mashvisor

Freddie Mac predicts homeprices will rise by 6.6 percent in 2021, slowing to 4.4 percent in2022, while it expects home sales to reach 7.1 million in 2021, and then declining to 6.7 million homes in2022.
 

What credit score do I need to buy a house with no money down?

Whatcredit score isneeded to buy a house with no money down?No-down-payment lenders usually set 620 as the lowestcredit score to buy a house.
You’ll need a FICO credit score of at least 500 to qualify for a Federal Housing Administration, or FHA, loan, but other programs may require a score of 620 or higher.

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