Revolutionize your wealth with comparative market analysis property

Conducting a Comparative Market Analysis

Conducting a CMA involves several steps. First, identify comparable properties—often referred to as "comps"—that have been sold within the last three to six months. These properties should be similar in size, location, age, and condition to the property in question. Next, analyze the selling prices of these comps to establish a price range for your property.

Adjustments must be made for any differences between the properties, such as upgrades, lot size, or unique features. This process requires a keen eye and market knowledge, which is why many opt to work with real estate professionals who can provide a detailed CMA report.