Definition
A CMA report analyzes comparable sales to estimate your property's fair market value. It shows you what similar properties recently sold for, helping establish realistic pricing.
Where you’ll meet it
What should I look for, and what's a red flag?
See it in Buying my first home · Step 3About this term
The CMA examines similar properties that recently sold in the same market area. Agents use CMAs to help sellers set competitive asking prices and to justify offer prices.
Pro Tip
Use CMA analysis to price competitively. Overpriced homes linger; competitive pricing attracts buyers and generates multiple offers.
Example
The agent prepared a CMA showing three comparable homes that sold for $320,000-$335,000, recommending a list price of $329,000.