Many Realtors ask us how to prepare an accurate Comparative Market Analysis. The following is an outline of presentations given at Realtor Training Sessions.

Use a subdivision specific search as the first step, in both MLS and Public Records.

Use recent data – no more than 3 months if possible. Especially important in a changing market.

Sort recent sales by Living Area (if subject is 1250 SF then search from 1150-1350)

Try to find sales without major differences (pool, water, room count, etc).

Search by Grid first. If there are not 5-10 sales that fit 1-4 above (be sure to screen by size and eliminate major differences) then expand the search area.

Place sales on market grid in order to see major differences and be able to adjust for these differences.

Sample Market Grid: http://gulf-to-bay-appraisals.com/Market_adjustment_grid.pdf

Marten Davis, SRPA – Appraiser