Real Estate Term
Comparative Market Analysis (CMA)
An analysis of recently sold properties similar to the subject property, used to determine market value.
What is Comparative Market Analysis?
A comparative market analysis (CMA) is a report that estimates a property's value by comparing it to recently sold, similar homes in the same area. Agents use a CMA to help sellers set a realistic asking price and to help buyers decide what to offer. Unlike a formal appraisal, a CMA is prepared by a real estate agent as a pricing tool rather than a lender-required valuation.
Frequently asked questions
Related terms
AppraisalA professional assessment of a property's market value, typically required by lenders before approving a mortgage.Fair Market ValueThe price a property would sell for in a competitive market with willing buyers and sellers.Listing AgentThe real estate agent who represents the seller in a property transaction.Buyer's AgentA real estate agent who represents the buyer in a property transaction.
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