Home Value Estimator
What is a comparative market analysis (CMA)?
A Comparative Market Analysis (CMA) is the home value estimator of similar, recently sold homes (called comparables or comps) that are near the home that you want to buy or sell. An experienced real estate broker will create a CMA report to find a fair price range for your home. The price range from the CMA can then be used as a guide to establishing an offer price or a listing price.
Basically, performing a CMA involves finding the homes that are similar to your home and creating an in-depth comparison of its size, age, location, and features of the home. It all comes down to one question: compared to other, comparable homes in this area, how much is your home worth? Answering that question involves looking at a fair amount of data on other homes in the current market.
The process for doing a comparative market analysis includes:
- Defining criteria for selecting comparables in close range to your home
- Determine a list of quality comparables
- Evaluate the comparables within close range to the home
- Adjust comparable values for differences in size, condition, location, amenities, etc
- Estimate the ideal home value of your target home based on the findings
For a no obligation, FREE home valuation by a Help-U-Sell professional, call 925-899-0161 or fill the form below.