Housing Market

Why Do You Need A Comparative Market Analysis?

Why Do You Need A Comparative Market Analysis?

A Comparative Market Analysis, or CMA, is an evaluation of similar homes that have recently sold, or are for sale.

These similar homes, often called "comparables" or "comps," would be homes of similar size, condition, age, and style in a specific neighborhood, and are used to determine an estimated fair market value of a home.

A CMA, completed by your real estate agent, is an effective tool for sellers when determining what price to list your home for, and for buyers, to check the value of the home before submitting an offer to purchase.

That said, a CMA isn't just about "the math." Knowing something about the dynamics of the market that...

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