If you’re thinking about selling your home, you’re likely asking yourself, “How do I find out how much a house in my neighborhood sold for?” and “Are the prices houses sold for in my neighborhood comparable to the price I could ask for my home?”
When deciding how much you should list your house for, the best place to start is with your Realtor. ask him to prepare a CMA for you.
A CMA WILL SHOW WHAT PRICES HOUSES SOLD FOR IN YOUR NEIGHBOURHOOD
If you’re looking to sell your home, your Realtor will be able to give you the prices houses sold for in your neighborhood. This will help you determine how much you should list your home for.
If you’re selling your home, you need to get the best and most accurate pricing data you can find. Realtors use two main tools:
MLS information: Like Realtor.ca, real estate agents have an extensive database of information going back about two decades about your house and your neighborhood. In Kitchener Waterloo we call this MLXchange. This is actually where the information on realtor.ca comes from, but ours is more detailed and extensive in scope of information. Basically, the information on any home that sold through the MLS system will be here, and we can sort by address, property type, number of bedrooms…
This is the main tool we use to complete a Comparative Market Analysis (CMA). A CMA is typically prepared free of charge. The CMA will provide information on how much several comparable houses in your neighborhood sold for.
Geowarehouse: Our second tool is the geowarehouse. This site hold all the title information on properties across Canada. It has great statistics on home values and we can search for recent sales (including private sales) in a radius of up to one kilometer of your home. There is also some great demographic information which helps us determine how to taylor our marketing effort to reach the most people most likely to buy your home.
If you live in Kitchener Waterloo and are thinking about selling, you probably want to know what a house in your neighbourhood’s house sold for. Send me an email or call. [email protected]
**UPDATED Further Reading**
Why are realtors’ commissions so high? How to negotiate your realtor’s commission.
Can I put my house on MLS without a realtor? No. You want to be listed on your local board.
Can I list my house for a flat fee using an agent? Yes. Be prepared to do some on the work.