What is a Comparative Market Analysis?
A Comparative Market Analysis or CMA is a method of estimating a home’s value based on recent sales of similar properties in the same area. The CMA is a tool used by real estate agents to help them determine what a property is worth. They do this by assessing the features of your property and finding “comps” or comparable properties that are similar to your own.
A CMA will likely include three to four comparable properties. These properties should share similar features to your own home, have recently sold, and be in close proximity to your home. The analysis will include the sold price of the properties along with a proposed listing price for your property. Some agents may also include other market data including days on market and pricing trends.