What is Comparative Market Analysis (CMA)?
A comparative market analysis is a report an agent prepares to estimate a property’s likely market value by comparing it to similar homes recently sold, currently for sale, or that failed to sell nearby. It helps sellers set a competitive price and buyers craft sensible offers. Unlike an appraisal, a CMA is an agent’s informed opinion, not a licensed valuation.
Example: Before listing, an agent runs a CMA showing comparable homes sold for $580,000–$620,000, helping the seller price at $599,000.