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 Current CMAs are outdated and rely mostly on historical data which is not representive of today’s values.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?
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.
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.
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?