Frequently Asked Question

What is a CMA, and how accurate is it?

By Pam HeinoldMarket NotesLast Updated:

Quick Answer

A comparative market analysis is a data-driven report prepared by a real estate agent that identifies recent sales of comparable homes and establishes a probable market value range for the subject property. A well-prepared CMA from an agent who knows your specific neighborhood is typically within 3–5% of what the home will sell for in a normal transaction.

Key Takeaways

  • A comparative market analysis is a data-driven report prepared by a real estate agent that identifies recent sales of comparable homes and establishes a probable market value range for the subject property.
  • A well-prepared CMA from an agent who knows your specific neighborhood is typically within 3–5% of what the home will sell for in a normal transaction.
  • It is not a formal appraisal, but it provides the practical guidance buyers and sellers need to make pricing decisions.

The Full Answer

A comparative market analysis is a data-driven report prepared by a real estate agent that identifies recent sales of comparable homes and establishes a probable market value range for the subject property. A well-prepared CMA from an agent who knows your specific neighborhood is typically within 3–5% of what the home will sell for in a normal transaction. It is not a formal appraisal, but it provides the practical guidance buyers and sellers need to make pricing decisions.

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