Uncover Your Potential With This Comparative Market Analysis Example
Performing a CMA involves several steps:
- Gather Data: Collect data on recently sold properties in the target area. These should be similar in size, age, and condition to the property in question.
- Analyze the Comparables: Examine the similarities and differences between the properties. Consider factors like location, amenities, and any unique features.
- Adjust for Differences: Make adjustments for any differences in features or conditions between the properties. This step is crucial for arriving at an accurate valuation.
- Determine the Value: Use the adjusted data to estimate the property's market value.