What factor is commonly assessed in a comparative market analysis?

In a comparative market analysis, understanding what buyers are likely to pay is critical because it directly informs pricing strategies for a property being sold or bought. This assessment involves analyzing recent sale prices of similar properties in the same area, considering factors like location, size, condition, and features. By determining buyer price expectations, real estate professionals can set a competitive and realistic price that reflects current market conditions.

While other factors, such as property age and market growth rate, may influence the overall market dynamics, they do not specifically target buyer behavior and price sensitivity as effectively as estimating what buyers are willing to pay. Thus, focusing on buyer expectations provides a clear pathway to actionable insights for pricing and marketing the property.