Using Comparative Market Analysis for For Sale Properties
Using Comparative Market Analysis for For Sale Properties
A Comparative Market Analysis (CMA) helps determine a fair offer price based on recent closed sales of similar homes within the same neighborhood. Work with your agent to select truly comparable homes: similar age, square footage, lot size, and amenities. Adjust for differences such as renovations, pools, or finished basements.
CMAs should use the most recent sales (ideally within 3–6 months) and consider current market trends. Pay attention to price per square foot but treat it as a guide — layout and usability matter, too. Use CMAs to set a reasonable offer range and justify negotiation positions to sellers.
Remember that a CMA is different from an appraisal; lenders rely on appraisals for loan decisions, while CMAs inform strategy. Combining both perspectives gives a more complete valuation picture
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