What is a Comparative Market Analysis?
What is a Comparative Market Analysis (CMA)?
A CMA is:
- A method of property valuation real estate professionals use to estimate the value of residential properties.
- A comparative market analysis helps sellers choose the best listing price for their homes.
- A CMA compares a subject property to other homes that are similar in location, size, and features. Ideally, a CMA uses recently sold homes from the same area or subdivision as the subject property.
What's in a CMA Report?
- When a real estate agent or broker conducts comparative market analysis, they will create a report that details the findings. While there's no standardized CMA report, it will typically include:
- The address of the subject property and three to five or more sold comparables
- A description of each property, including elevation, floor plan, features, and the number of bedrooms and bathrooms
- The square footage of each property
- The sales price of each comparable
- Dollar adjustments for any differences
- The fair market value of the subject property
The RAE has 4 basic tools for creating a CMA
1 - Paragon CMA
- Create a full CMA Presentation via a step-by-step wizard approach within Paragon.
2 - Quick CMA
- If you are short on time or simply do not have the need for a complete CMA packet or presentation then a Quick CMA may be a solution for you.
3 - Cloud CMA
- Cloud CMA is an online report creator that blends MLS® System Data and Images.
4 - RAETrends CMA aka Top CMA
- Top CMA creates a report that adds in the features that RAE Trends has to offer and has a great online viewing feature.