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Comparative Market Analysis
Comparative market analysis, often known by its abbreviation CMA, is a process by which individuals or agents research the sale prices of similarly situated homes sold in a given area during a recent period of time. This is sort of analysis is designed to give sellers, buyers and agents a starting price range for homes when they are put on the market. The CMA will generally look to answer one important question: When compared to the other homes in this area, how much is this particular home worth? Though looking at the prices of recently sold homes is one part of the analysis, much more can go into the equation. Most buyers, sellers and agents who conduct CMA are simply looking for a price range. It is not a process that is used to provide an exact, scientific starting point for those who buy and sell homes in the market.