Thanks for posting your seventh question!
I beg to differ with the other posts. The Comparable Market Analysis is a useful tool, but only as useful as the interpretation that accompanies it.
Let me illustrate: (disclaimer - I do not know YOUR market.)
1. When the market is trending downward (the best indicators are: Sales prices are less than list prices, inventory is accumulating, meaning listings are entering the market faster than they are selling). In this scenario, a common one in California, means a couple of things:
a) The overall value of homes is declining, so in a very real sense, time is money. That means as a seller you have a couple of options:
i) Price your home at your wish price, and watch it decline in value
ii) Price your home that the current market price and face longer listing period and gradually reduce the price (we call that "chasing the market"
iii) Price your home at the price you think at which it will sell. In a declining market, that means you would price it "under" market based on the sold listings from the CMA.
SOLD listings did not "sell" yesterday. They entered the market, went through some price reductions (probably 5-10%), finally enter escrow, then after escrow (30-60 days) they "sell". So the data is dated.
In a down trending market, the more accurate sales figures will be in the pending sales. Have your Realtor contact the other Realtors with Pending listings and find out at the amount they are in escrow.
Even in a declining market, a properly priced listing will still net the seller the most money if it sells in the first 3-4 weeks. Consider underpricing your property by 5 -10% in order to maximize the net profit. Also, condition is critical. Above market commission, a buy down program, and staging might be prudent.
Consult your Realtor.