Comparative Market Analysis (CMA)
Using comparables, a CMA is an examination (by a real estate agent) of the prices that similar properties have sold within the same area in which a subject property is located (typically 1/4 mile). It should be noted that a CMA is not an appraisal. An appraisal is typically required by the buyer's lender in connection with securing a loan on a property. When performing a CMA and since it is rare that two properties are the same; adjustments must be made to compensate for differences between properties that have been sold and the property that we intend to list; to determine the ultimate list price.