Buying a home in some price ranges in some parts of the country can be a definite challenge. Knowing, for instance, that homes in the $220,000 to $250,000 price range sell in a day or two means that the use of comparative market analysis (CMA) becomes very important. In fact, CMA software for realtors can help both agents and buyers make certain that they are offering the most competitive bids. In some cases, of course, this means that many of the bids have to actually be higher than list price to have a chance of being competitive.
With the latest CMA real estate templates that are updated with local parameters can help agents more successfully predict the offer price that should be offered.
Real Estate CMA Software Platforms Are Essential in Today’s Competitive Markets
When it comes to both pricing a new listing and submitting an offer for a house for sale, CMA software for realtors is essential. It can be a challenge, for example, if you are moving from one of the coasts to the midwest you can come in with a skewed vision of how much you should pay for your new home. With the use of the latest CMA software, however, buyers who are new to an area can get an understanding of how the local market is working. Making comparisons to other homes in the area that have been bought and sold in the last year, for instance, allows a buyer to see the kind of money that it might take to get into a certain neighborhood or school district.
Owning a home is the American dream, but it takes real work and patience to achieve this goal. Consider some of these facts and figures about the current real estate market in America and the many times when CMA software for realtors is necessary:
- As a number that is only expected to rise, Millennials and Gen Yers made up about 34% of home buyers in the year 2017.
- Across the total U.S. housing stock, the 10 most valuable metropolitan areas in the U.S. are worth 36%, which represents $11.3 trillion.
- The median sales price of new houses sold as of February 2018 was $326,800, according to the Census Bureau.
- Homeownership rates in the U.S. in 2016 was the lowest it has been in 50 years.
- The value of the U.S. housing stock increased by 6.5%, representing $2 trillion, in the year 2017.
- 80% of residential growth will happen in suburban communities over the next decade.
Working with a realtor is typically the best way to make sure that you are getting the best advice. One of the reasons that this is the right approach is because of the latest updated CMA software for realtors.