A comparative market analysis (CMA) is an estimate of a property’s market value. The agent, seller, or buyer evaluates the property to comparable properties in the area. CMAs help agents and brokers set fair listing prices to help find the best price for the client. The analysis reviews the location, age, size, construction, style, etc. for the property.
- Location/Neighborhood: What are the amenities? Are the school ratings in the area satisfactory? If there are any, what are the HOA rules in place?
- Age: How long was the house on the market? What year was the home built?
- Size: What is the square footage?
- Construction/Style: How many bedrooms/floors does the property have? Does the property have curb appeal? Are there any outside amenities? For example, a pool.