reference
glossary.
25 terms
definition
A Comparative Market Analysis (CMA) is a report that compares a property to similar recently sold properties in the same area to estimate its market value. Real estate agents prepare CMAs to help sellers price their homes competitively and assist buyers in making informed offers. This analysis considers factors like location, size, condition, and recent sale prices of comparable properties.
examples
- —The real estate agent prepared a comprehensive CMA showing that similar homes in the neighborhood sold between $380,000 and $420,000.
- —Before listing her home, Sarah requested a CMA to understand current market conditions and set a competitive asking price.
- —The buyer's agent used a CMA to justify their client's offer of $395,000 on the three-bedroom colonial.