When pricing a home there are several ways to determine the price. At the most basic level, a good CMA helps determine the market value. The Right Price Analysis demonstrates how time on the market affects the price. But the Absorption Rate Analysis helps the seller understand why it’s important to choose the right price based on how quickly they want to sell.
Real estate professionals watch local inventory levels. Knowing how long it will take for the market to absorb the inventory that is currently listed gives you an indication of how your client should price their own property. If the seller wants to get rid of their property faster than average then they need to lower their price compared to other local properties.
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