If you’re wondering, “What is my home worth in Spokane?”, you’re not alone. Homeowners looking to sell or refinance need a precise valuation to make informed decisions. Many factors influence a home's market value, but the most effective pricing strategy involves a Comparative Market Analysis (CMA) combined with precise adjustments for property differences.
Understanding Comparative Market Analysis (CMA)
A Comparative Market Analysis (CMA) is the industry-standard method for estimating home value. It involves evaluating recently sold, active, and pending listings that are similar to your home in terms of:
Square footage
Number of bedrooms and bathrooms
Lot size
Garage size
Property condition and quality
Location and appeal
An ideal comparable (comp) property should be within one mile of your home, have sold within the past six months, and possess similar features to ensure accuracy.
How a Standard CMA Works
When conducting a standard CMA, real estate professionals examine three types of properties:
Active Listings – Homes currently on the market, showing what sellers are asking.
Pending Listings – Homes under contract, giving insight into recent demand.
Sold Listings – The most critical factor, showing the final sale price buyers were willing to pay.
While this method provides a good estimate, it doesn't account for the unique differences between properties. That’s where my specialized process comes in.
A More Accurate Approach: Adjusting for Property Differences
Even two seemingly similar homes won’t always sell for the same price due to subtle yet significant differences. My custom adjustment spreadsheet ensures a much more precise valuation by accounting for variances in:
Square footage (larger homes typically sell for more per square foot)
Lot size (extra land can add value)
Bedrooms and bathrooms (more functional space often increases worth)
Garage size (attached vs. detached, one-car vs. two-car garages)
View and location (waterfront, scenic views, or busy streets affect value)
Property appeal (curb appeal, landscaping, and architecture matter)
Condition and quality (renovations, modern features, and overall upkeep impact price)
The Adjustment Process
Using my proprietary adjustment spreadsheet, I input the selected comps and apply value-based adjustments for the differences. For example:
If a comparable home has an extra bathroom, I adjust the price down for the subject property.
If the subject home has a larger lot size, I adjust the comparable home’s price up.
If a comp has a better view, I adjust my estimate accordingly.
By averaging the adjusted values, I derive a more accurate estimate of what your home is truly worth—not just based on sales trends, but based on how it compares to the competition.
Why This Method Matters
Many home valuations fail because they rely solely on automated algorithms (like Zillow’s Zestimate) or basic CMA reports that don’t factor in adjustments for unique property characteristics. My method provides a more precise, data-driven home valuation that ensures you don’t overprice and sit on the market for months or underprice and leave money on the table.
Find Out What Your Home Is Worth Today
If you’re serious about selling and want the most accurate answer to “What is my home worth in Spokane?”, my process ensures precision, fairness, and market expertise. Contact me today for a customized home valuation using my advanced adjustment method to get the true market value of your home. Click 'Contact Me' below to begin our conversation!
Frequently Asked Questions (FAQs)
1. Can’t I just use an online home value estimator? Online estimators like Zillow provide rough estimates but lack local expertise and property-specific adjustments, making them unreliable for pricing a home accurately.
2. How long does a CMA take? A detailed CMA with my adjustment process typically takes a few days, ensuring every factor influencing your home’s value is considered.
3. What if my home is unique and has no perfect comps? That’s where my adjustment process shines! Even if no exact match exists, adjustments help derive an accurate market value.
4. Will home improvements increase my home’s value? Yes, but the return on investment varies. Kitchens, bathrooms, and curb appeal improvements generally yield the highest returns.
5. How often should I get a CMA? If you're planning to sell, a fresh CMA is recommended every three to six months to reflect changing market conditions.
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About Me
My name is Nick Briggs
Being born and raised in Spokane I grew up knowing what a special place this city is, and it was my dream to help others create a life in this wonderful community by guiding them in real estate. I spent many years in the customer service industry, the experience of listening and communication showed me how much I truly loved helping people. I attended Gonzaga University and earned a Bachelor’s Degree in Business Administration to add to my knowledge of guiding, managing, negotiating, and listening to individuals, helping them achieve their real estate goals.
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