prediction calculators

comparative market analysis prediction calculator

ORBITs CMA prediction calculator compares and analyzes thousands of listings and corresponding metrics in real-time to estimate the optimal listing price for a property to go in the market for. We further provide real estate professionals with nearby properties with similar metrics for further comparisons and price adjustments. This includes similar properties on the same street and neighborhood that are either currently listed on the market or have been sold recently. Current CMAs are outdated and rely mostly on historical data which is not representive of today’s values.

Time-On-market prediction calculator

Not only does ORBIT provide real estate professionals with the optimal prices for their properties, but also allows them to understand how the chosen price will affect the time a certain property will remain in the market. Similar to the CMA prediction calculator, the Time-on-Market Prediction Calculator estimates and predicts the listing time of a certain property for the chosen price. Additionally, it allows professionals to visualize and understand the price elasticity of the listing of subject, and how a price increase or decrease will affect the listing time of a property.

ORBIT comparative market analysis

WHAT IS A COMPARATIVE MARKET ANALYSIS?

When working with sellers in determining the listing price of a property or with buyers to check the value before offers to purchase, real estate professionals carry out what is known as a Comparative Market Analysis (CMA). They analyze sold property records which are similar and located nearby the subject property and then compare them into obtaining an estimate value for the subject property.

However, a thorough real estate comparison analysis must undergo a second additional CMA which includes comparisons to currently listed similar properties in that area. This allows for an assessment of the current competition and leads to a further price adjustment on the estimate based on the sold properties records. Moreover, crucial to the CMA’s accuracy in determining the market value of a property is the selection of the best comparable properties.

Accordingly, there are three main comps to consider when comparing properties:

When the property was sold

Sales which occurred more than three months ago are usually not good comps, especially in fast-moving markets. Preferring sale values of comparable properties which occurred recently, decreases the chance that the market has moved enough to make the comparable properties’ sold price irrelevant at the time the CMA is performed.

Where the property is located

The very best situation is that professionals find neighboring properties or properties located on the same street. Properties in the same location or neighborhood can also be good proxies although a professional must take into account that the price can differ depending on which streets these are located.

The characteristics of the property

Real estate professionals seek for comparable properties with the most similar and comparable details such as the number of bedrooms and bathrooms, the size of the property and its lot, amongst other features.

wHY IS ORBIT's CMA the most accurate prediction tool in the market?

ORBIT CMA prediction calculator tackles all these points above mentioned and provides real estate professionals with the most accurate and up-to-date comparative market analysis price estimation tool in South Africa.

First, it analyses all the properties available in the market (in real-time) and compares their existing metrics with the subject property. Secondly, it provides the user with an estimation of the property’s market value. Lastly, it displays nearby comparable properties (ranked according to ORBITs regression models) that are either for sale or have been sold recently for further comparisons and price adjustments.

Current CMAs are outdated and rely mostly on historical data which is not representative of today’s price values. ORBIT is therefore the only CMA solution which analyses all the listings on the web in real-time and helps real estate professionals to find the optimal price for a property, taking into account the whole current supply of the market and more specifically, the most similar and recent properties, crucial for further price adjustments.