Comparative Market Analysis (CMA)
A comparative market analysis is an informal appraisal of your property based on the final sale prices of similar properties in your area. The price formulated in a comparative market analysis is usually used as a basis for negotiating when listing a property on the market. It gives you, the seller, an idea of the fair market value of your property. A comparative market analysis is made from a collection of listings that have already been sold or are actively on the market and are similar in location, square footage, condition, and other factors. Comparative market analyses help the seller create realistic expectations and protect the buyer from overpaying for a property.
Who Conducts a CMA?
As a Realtor, I am familiar with the housing market and have access to data regarding properties that have been listed or sold more recently, and thus can provide you with a more accurate analysis. There are also a lot of intangible factors to consider when figuring out the value of a home, such as view and appeal, and I will be able to estimate these variables for you.