Understand that the valuation of your property- "pricing" your property- is an absolute critical first step in the selling process. There can be so many issues to consider, from the desirability of your home, to comparable sales, to the overall market.. When I do my market analysis I approach it from your perspective- the seller- as well as from the buyers.
The Comparative Market Analysis (CMA) is a very helpful tool when estimating a potential sale price for your home. This being said, the CMA is not the only tool I use. I will look at all comparable listings and sales in and around your areas as a benchmark for the potential sale price of your home. I also look at comparable homes that did not sell and try to figure out why. Getting a good idea of sales in your neighborhood is a good place to start, and I also look at several other critical factors to ensure your property will be well positioned given current market conditions so that we are not left chasing the rabbits tail.
Most buyers are clever and compare their neighbors’ home price with other properties on the market. But remember before you embark on renovating or improving your home, you don't want to make your home more expensive than the neighborhood’s market can actually bear.