If you’re a homeowner, you’ve probably wondered at some point, “What is my home worth right now?”
It’s a great question, and it’s one I hear all the time. Whether you’re planning to sell soon, considering a move down the road, thinking about renovations, or you’re just curious, understanding your home’s value helps you make smarter decisions.
That’s where a Comparative Market Analysis, also known as a CMA, comes in.
What Is a Comparative Market Analysis (CMA)?
A Comparative Market Analysis (CMA) is a report created by a real estate professional that estimates a home’s current value by comparing it to similar properties in the same area.
Instead of guessing, relying on online estimates, or going off what a neighbor says their home sold for, a CMA uses real data from your local market to give you a much more accurate picture of where your home stands today.
It’s a helpful tool for:
Buyers
Sellers
Homeowners who aren’t selling but want clarity
Why a CMA Matters for Buyers
If you’re buying a home, a CMA can help you make informed decisions before you submit an offer.
A CMA helps buyers by:
Helping you make an informed offer
Offering guidance on price
Providing market clarity
In competitive markets, having a clear understanding of value can mean the difference between overpaying or losing out, or making a confident offer you feel good about.
Why a CMA Matters for Sellers
For sellers, a CMA is one of the most important first steps before listing a home.
A proper CMA:
Determines what your home is likely to sell for
Ensures your home is competitively priced
Provides negotiation leverage
Pricing is everything. If a home is priced too high, it may sit longer and require price reductions. If it’s priced too low, you risk leaving money on the table. A CMA helps set a strategy based on the realities of the market, not assumptions.
Why a CMA Matters for Homeowners Who Aren’t Selling
A CMA isn’t only for people getting ready to list.
Even if you’re staying put, a CMA can still be valuable because it:
Provides a baseline for a future decision to stay or sell
Tracks home equity and value
Helps plan for renovations and improvements
Knowing how your home compares to others nearby can help you decide whether upgrades are worthwhile and how your equity has grown over time.
What Information Is Included in a CMA?
A detailed CMA will include a mix of property details and real market data. Most reports include:
1) Property Data
This includes the key facts about your home, such as:
Size
Number of rooms
Age
Condition
Unique features
2) Comparable Sales (Comps)
Typically, a CMA includes 3 to 5 homes sold recently that are similar to yours. These sales are one of the strongest indicators of value because they show what buyers were actually willing to pay.
3) Current Listings
This section shows similar homes that are currently for sale. It helps show your competition if you are listing, or what options exist if you are buying.
4) Pending Sales
Pending homes are properties that are under contract but not sold yet. These can offer clues about where the market is moving, especially if conditions are changing quickly.
5) Market Analysis
This may include additional insights like:
Days on market
Local pricing trends
Activity levels in your neighborhood
6) Adjustments
Not all homes are identical. Adjustments account for differences such as:
Garage vs no garage
Renovated vs original condition
Lot size
Finished basement
Extra bathrooms
Pools, decks, landscaping, and more
7) Valuation Range
A CMA typically provides a suggested price range rather than one exact number. That range helps you understand how your home fits into current buyer demand.
Online Home Value Tools vs a CMA
Online estimates can be helpful for a quick look, but they often miss key details that influence value, such as:
Condition and upgrades
Layout and functionality
Lot location and exposure
Renovation quality
Street appeal and overall presentation
A CMA takes the local market and your specific home features into account, which is why it’s often the most useful and realistic option.
Want a Free, No-Obligation CMA?
If you’re interested in knowing what your home could sell for, or you simply want a clearer picture of today’s market, I’d be happy to run a free, no-obligation Comparative Market Analysis for you.
Just reach out and I’ll take care of the rest.
And by the way, I’m never too busy for any of your referrals.
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