You're doing a CMA, and your three adjusted comps come in at $345,600, $352,800, and $359,900. What is a reasonable range to suggest for a listing price?

Rationale

$345,000-$360,000 is a reasonable range to suggest for a listing price.

This range is derived by analyzing the adjusted comparable sales prices, which indicate market values for similar properties. By taking into account the lowest comp price of $345,600 and the next tier of $352,800, a listing price range that remains competitive yet realistic is established.

A ($360,000-$375,000) YOUR ANSWER

This range exceeds the highest adjusted comp of $359,900, suggesting a listing price that is not supported by the market data. Listing above the highest comparable sale price risks overpricing the property, which could deter potential buyers and result in extended time on the market.

B ($345,000-$360,000) CORRECT

This range effectively encompasses the adjusted comps, starting just below the lowest comp at $345,600 and reaching slightly above the highest comp at $359,900. It presents a competitive yet reasonable price point that aligns with the market, making it attractive to buyers while remaining grounded in actual sales data.

C ($330,000-$345,000) YOUR ANSWER

This range falls below the lowest adjusted comp of $345,600, which may undervalue the property in the current market. Suggesting a price lower than the established comps risks losing potential offers and could convey a lack of confidence in the property’s worth.

D ($300,000-$330,000) YOUR ANSWER

This option significantly undercuts the market evidence provided by the adjusted comps. Pricing a property this low could lead to perceptions of substantial issues with the home or neighborhood, ultimately hindering buyer interest and complicating the sale process.

Conclusion

Establishing a listing price based on adjusted comps is crucial for attracting buyers and ensuring a timely sale. The range of $345,000-$360,000 effectively utilizes market data, supporting a competitive price while reflecting the property's true value within its market context. Any deviation from this range could either undervalue the property or set it above market expectations, leading to potential challenges in the selling process.

You're doing a CMA, and your three adjusted comps come in at $345,600, $352,800, and $359,900. What is a reasonable range to suggest for a listing price?

$345,000-$360,000 is a reasonable range to suggest for a listing price.

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