Definition
Analysis of recently sold comparable properties to determine a property's market value and appropriate listing price.
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CMAs examine similar properties that sold recently, accounting for differences in size, condition, location, and features. Used by agents and appraisers to determine value.
Pro Tip
Request detailed CMAs from agents; adjust for property differences when comparing sales.
Example
CMA showing 8 comparable homes sold in $400-$450k range within last 90 days.