Comparative Market Analysis - A comparative market analysis, or CMA, is a Realtors estimation of value, based on data gathered from local listings and sales, to determine the likely sale price of a property in the current market. Sellers may use a CMA to help determine a listing price. Buyers may use a CMA to help them determine how much to offer on a property they are interested in purchasing.A CMA is normally done by a real estate agent who has easy access to area sales records, but sellers and buyers can find the same information by visiting their county courthouse or online public records, although this can be very time consuming and real estate agents may have more current sales records.
Although most realtors are pretty accurate in their assessment of value it's still a good idea to get an appraisal on the property.
In some planned communities with many houses built on the same floor plan, the CMA can be a very accurate indicator of proper selling price for a home.
When viewing a CMA, it is important to make sure the properties compared to the subject property are comparable. They should have sold recently be in the same area and have enough in common to make sense.
