What is a (CMA) comparative market analysis?
A Comparative Market Analysis (CMA) is not an appraisal but an evaluation of similar recently sold homes (often called comps) that are near your property. Buyers, sellers, or real estate agents perform a CMA report to establish and find a fair price range for the home the report is created for. The price range from the CMA can then be used as a guide to be used for establishing an offer price or a listing price.
Basically, producing a CMA involves finding similar properties and creating an in-depth report comparing location, size, updates and other relevant information.
Bottom line the CMA can also be viewed as a Competitive Market Analysis- determining current competition, recent sales and additional data impacting the potential sale price of the property. CMA Request Form