{"id":694,"date":"2020-08-20T11:42:44","date_gmt":"2020-08-20T11:42:44","guid":{"rendered":"https:\/\/sirmaya.com\/blog\/?p=694"},"modified":"2020-08-20T12:01:46","modified_gmt":"2020-08-20T12:01:46","slug":"how-to-do-a-real-estate-market-analysis","status":"publish","type":"post","link":"https:\/\/www.sirmaya.com\/blog\/how-to-do-a-real-estate-market-analysis\/","title":{"rendered":"How to do a Real Estate Market Analysis?"},"content":{"rendered":"<div class='epvc-post-count'><span class='epvc-eye'><\/span>  <span class=\"epvc-count\"> 3,574<\/span><span class='epvc-label'> Views<\/span><\/div>\n<p>A real estate investor is easy to get trapped by a pool of gimmick-agents if he lacks the insights from the market trends. To make sure that the property you are investing in or are selling is fairly-priced, analyzing the real estate market of the targetted area carries primary importance. This will lead you to a comparatively informed decision. Before diving into the steps of performing this analysis, let\u2019s define what market analysis in the real estate industry actually refers to.<\/p>\n\n\n\n<h3><span class=\"ez-toc-section\" id=\"Real_Estate_Market_Analysis\"><\/span><strong>Real Estate Market Analysis<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The comparison of ongoing market values of properties with the property you are looking to buy or to sell is what we call real estate market analysis or comparative market analysis (CMA).&nbsp;<\/p>\n\n\n\n<p><strong>Why is it necessary?<\/strong><\/p>\n\n\n\n<p>Although you can hire an agent to do the analysis for you, but who is going to supervise that agent? That is you! And, this is why you need to perform a short market insight survey using the following information and a <a href=\"https:\/\/sirmaya.com\/\">property portal <\/a>before you invest your hard-earned money.\u00a0<\/p>\n\n\n\n<p>Market Analysis is an indispensable step particularly for the sellers who are deciding the accurate numerics of their sellable property\u2019s price-tag.<\/p>\n\n\n\n<p><strong>A Real Estate Market Analysis helps you with the following:<\/strong><\/p>\n\n\n\n<ul><li>Understand the current housing market situation<\/li><li>Do an easy comparison of your property to alike property price-tags in your area<\/li><li>Accurately price a home<\/li><\/ul>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"Step1_Evaluate_the_property\"><\/span><strong>Step#1: Evaluate the property<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>You can hop onto the online portal that covers your area to have an idea about the versatility of options you have. Mostly, people trust sirmaya.com for their online property searches and for market analysis as there is around 0.46+ million property listed under the categories of <a href=\"https:\/\/sirmaya.com\/homes.html\">homes<\/a>, <a href=\"https:\/\/sirmaya.com\/plots.html\">plots<\/a>, <a href=\"https:\/\/sirmaya.com\/commercial.html\">commercial property<\/a>, <a href=\"https:\/\/sirmaya.com\/agricultural-land.html\">agricultural lands<\/a>, <a href=\"https:\/\/sirmaya.com\/industrial-land.html\">industrial lands<\/a>, and more. Moreover, if there is a particular <a href=\"https:\/\/sirmaya.com\/dealers.html\">reputable dealer<\/a> or property agent in your mind, you can also find their properties listed in the category tab of dealers.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"953\" height=\"527\" src=\"https:\/\/sirmaya.com\/blog\/wp-content\/uploads\/2020\/08\/image.png\" alt=\"\" class=\"wp-image-696\" \/><figcaption>In neighborhoods, Explore Latest Property Listings through sirmaya.com<\/figcaption><\/figure>\n\n\n\n<p>Look for the following characteristics in the under-consideration property:<\/p>\n\n\n\n<p><strong>Area<\/strong>: Large area properties have higher costs.<\/p>\n\n\n\n<p><strong>Architecture<\/strong>: A Well-designed house costs higher than a haphazardly designed one.<\/p>\n\n\n\n<p><strong>Construction Age<\/strong>:<strong> <\/strong>(If it is a constructed house): Look for how old is the house.<\/p>\n\n\n\n<p><strong>Location<\/strong>: Address the question of the house\u2019s location; If located in a posh area, it will cost higher than the one located in the outskirts of a city.<\/p>\n\n\n\n<p><strong>Facilities<\/strong>: Security, Access to Amenities, etc- Does the house has these nearby?<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"Step2_Assess_the_Real_Listing_Price\"><\/span><strong>Step#2: Assess the Real Listing Price<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Completing the first step has taken you through half the process. Now, you have a mindmap of the evaluated factors and you are well-informed of the parameters that are affecting the value of your prospect property. To work out the real listing price of this property is your next goal. On the online portal go through the online captures, videos, and virtual tours listed there. Scroll up and down through multiple listings of the same kind to know the actual bracket space in which your targetted property will lie. Read the descriptions, pen them down in your brain, and form an opinion through the stats you access. It is a plus point if you are able to reach directly the owner or dealer of the property to know if the home was custom-built or is a cookie-cutter version of some existing sample.<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"Step3_Clear_Your_Mind_through_Consultations\"><\/span><strong>Step#3: Clear Your Mind through Consultations<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>For a good and easy process do consider online estimation calculators that are not-so-accurate but will help you clear most of your cloudy thoughts about the prices.&nbsp;<\/p>\n\n\n\n<p>You can also make calls to some dealers connected to that area- Again a crucial step to form a comparative analysis file in your head.<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"Step4_Form_your_Price_Domain\"><\/span><strong>Step#4: Form your Price Domain<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>We are almost done. With all the information you have gathered, now it is time to define the ceiling-to-floor range of the property under consideration.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img loading=\"lazy\" src=\"https:\/\/blog.nolo.com\/realestate\/files\/2013\/09\/price-tag-house.jpg\" alt=\"Paper house attached to yellow blank price tag on blue background ...\" width=\"606\" height=\"402\" \/><\/figure><\/div>\n\n\n\n<p><strong>Define Your Ceiling Value<\/strong><\/p>\n\n\n\n<p>Sideline 1 property out of a similar set of 3-5 comparisons that is worth more than yours. This is your ideal case property and is the best you can get according to your requirements. This property defines your ceiling price limit.<\/p>\n\n\n\n<p><strong>Define Your Floor Price<\/strong><\/p>\n\n\n\n<p>Pick an option that is lesser in worth than your target property. Some factors like curb appeal, location, etc may be compromised in this one. The price of this one is going to be your lower price limit or floor value.<\/p>\n\n\n\n<p>Now you have designed the price bracket of your property.<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"Step5_Conclude_your_Analysis_through_a_Site-Tour\"><\/span><strong>Step#5: Conclude your Analysis through a Site-Tour<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Skim out the best and intermediate cases laying in the price bracket you have concluded in the last step. Walk through them, make notes of the factors that can affect the prices: curb appeal, interiors, architecture, features, landscaping, repairs, and maintenance point- note them all.<\/p>\n\n\n\n<h4 class=\"has-text-align-center\"><span class=\"ez-toc-section\" id=\"Consider_this_Case\"><\/span><strong>Consider this Case:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Let\u2019s say your property is 7 Marla and after researching you have 3 comparable homes:<\/p>\n\n\n\n<p><strong>Home 1<\/strong>: <a href=\"https:\/\/sirmaya.com\/property\/homes\/5-to-5-marla-house-in-dha-lahore-128?area=marla&amp;city_name=lahore&amp;address=DHA%2C%20Lahore%2C%20Pakistan&amp;type=homes&amp;sub_type=3&amp;sub_type_title=House&amp;min_area=5&amp;max_area=5&amp;autocomplete_flag=true&amp;isFeatured=false&amp;isLatest=false&amp;place_id=ChIJQdjg4XYGGTkRoPj9lHJrTdE&amp;isAjax=true\">5 Marla House in DHA Lahore<\/a><a href=\"https:\/\/sirmaya.com\/5-marla-house-for-sale-in-dha-lahore-29393\"> <\/a>\u00a0priced at Rs. 13 million<\/p>\n\n\n\n<p><strong>Home 2<\/strong>: 8 Marla House in DHA Lahore priced at Rs. 18 million<\/p>\n\n\n\n<p><strong>Home 3<\/strong>: <a href=\"https:\/\/sirmaya.com\/property\/homes\/10-to-10-marla-house-in-dha-lahore-128?area=marla&amp;city_name=lahore&amp;address=DHA%2C%20Lahore%2C%20Pakistan&amp;type=homes&amp;sub_type=3&amp;sub_type_title=House&amp;min_area=10&amp;max_area=10&amp;autocomplete_flag=true&amp;isFeatured=false&amp;isLatest=false&amp;place_id=ChIJQdjg4XYGGTkRoPj9lHJrTdE&amp;isAjax=true\">10 Marla House in DHA Lahore<\/a> priced at Rs. 21 million<\/p>\n\n\n\n<p>The average price per marla of these 3 comp constructed homes is 2.3 million. Multiply it with your property\u2019s area (7 Marla). You land at a value of Rs.16.1 million. This is a pretty accurate estimate of how your home should be priced.<\/p>\n\n\n\n<p>The above steps are essential for a seller to follow so avoid over-pricing his home, leading to a prolonged selling process. Also, this info is equally crucial for a buyer to grub away the extras attached to the prices of the property being offered to him.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>3,574 Views A real estate investor is easy to get trapped by a pool of gimmick-agents if he lacks the insights from the market trends. To make sure that the &hellip; <\/p>\n","protected":false},"author":5,"featured_media":695,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[16,6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to do a Real Estate Market Analysis? | Sirmaya Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.sirmaya.com\/blog\/how-to-do-a-real-estate-market-analysis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to do a Real Estate Market Analysis? | Sirmaya Blog\" \/>\n<meta property=\"og:description\" content=\"3,574 Views A real estate investor is easy to get trapped by a pool of gimmick-agents if he lacks the insights from the market trends. 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