45. You're doing a CMA, and your three adjusted comps come in at $345,600, $352,800, and $359,900. What is a reasonable range to suggest for a listing price?
Answer: B
A reasonable range to suggest for a listing price is $345,000-$360,000.
Given the adjusted comparable sales at $345,600, $352,800, and $359,900, a reasonable range for a listing price would be $345,000-$360,000, aligning closely with the lowest and highest values of the adjusted comps.
A) $360,000-$375,000
This option is incorrect as it exceeds the highest adjusted comp of $359,900. A listing price should generally be based on recent comparable sales, and suggesting a price above this would not reflect the market conditions indicated by the comps.
B) $345,000-$360,000
This option is correct as it effectively encompasses the range of the adjusted comps. It begins just below the lowest adjusted comp of $345,600 and goes up to the highest adjusted comp of $359,900, making it a reasonable and competitive pricing strategy.
C) $330,000-$345,000
This option is incorrect because it falls below the lowest adjusted comp of $345,600. Pricing below this level may undervalue the property and deter potential buyers, as it does not accurately reflect the market.
D) $300,000-$330,000
This option is also incorrect as it is significantly lower than the lowest adjusted comp of $345,600. Such a low price range would misrepresent the property value based on market data and could lead to a lack of interest from buyers.
Conclusion
The correct answer, $345,000-$360,000, is justified as it aligns with the adjusted comps and provides a viable price range for listing. All other options fail to accurately represent the market data, either by exceeding the comps or undervaluing the property. Thus, they do not offer a reasonable suggestion for a listing price.