What is a CMA?

What Is a CMA (Comparative Market Analysis) and Why Is It Important?

Whether you’re thinking about selling your home, buying your first one, or just curious about your property’s value, you’ve probably heard the term CMA thrown around. But what exactly is a CMA—and why does it matter?

What Is a CMA?

A Comparative Market Analysis (CMA) is a report prepared by a real estate agent that estimates a home’s current market value. It’s based on recent sales of similar properties in the area—often referred to as “comps.” These comparable homes should be as similar as possible in size, condition, location, and features to the home being evaluated.

Unlike online home value estimates (which can vary widely and may not reflect real-time market conditions), a CMA is customized and prepared by a professional who understands your local market inside and out.

What’s Included in a CMA?

A well-prepared CMA typically includes:

• Recently sold homes (usually within the past 3–6 months)
• Active listings (your “competition”)
• Pending sales
• Expired or withdrawn listings
• Key details like square footage, lot size, age, number of bedrooms and bathrooms, upgrades, and more

Why Is a CMA Useful?

For Sellers:

• Price your home right: Overpricing can lead to a stale listing, while underpricing can leave money on the table.
• Understand the competition: A CMA helps you see what similar homes are listed for—and how yours compares.
• Back up your asking price: A data-backed CMA can support your pricing decisions during negotiations.

For Buyers:

• Make informed offers: A CMA helps you determine whether a home is fairly priced.
• Avoid overpaying: Know the true market value before making an offer.
• Strengthen negotiations: Use the data to your advantage when working with the seller.

When Should You Request a CMA?

• Before listing your home for sale
• When preparing to buy a home and want to make a competitive offer
• If you’re refinancing or just curious about your current home’s value
• Anytime you want a clearer picture of your local market

Thinking About Buying or Selling?
I’d be happy to prepare a free, no-obligation CMA for you. Whether you’re ready to move or just exploring your options, a CMA is a great first step toward making informed, confident decisions in today’s market.

Call/Text: 208-964-7913
Email: emily.mcleod@cbidaho.com