What is Market Analysis?
The correct selling price of a home is the highest price the market will bear. To assist you in determining the correct purchase price, we have provided you with a comprehensive market analysis of comparable properties that have recently been offered for sale in the neighbourhood. This analysis is based strictly on homes that can be considered similar to the one you are looking at, and has been specially prepared for you over the last few days.
This ‘comparative’ property analysis is divided into three categories:
- Similar properties that are currently listed
- Similar properties that have recently sold
- Similar properties that have failed to sell
By carefully studying the comparable property locations, features, and the terms under which they are offered, we can develop a clear picture of the potential market for any property.
By looking at similar properties recently sold, we can see what buyers have actually paid in the last few months. This is the acid test that is used by lending institutions to determine how much they are willing to lend a buyer. While we naturally want you to receive top market value, we can agree that there’s a point where a price will be too high. By looking at homes that didn’t sell, we can accurately determine the best price for a property.