The Competitive Market Analysis (aka a CMA)

When determining the value of your home, a Realtor conducts what’s called a local comparative market analysis, or CMA. This process starts by identifying similar properties in your area that have recently sold. These are homes that match yours in size, style, location, and features.

Then, key details are analyzed. Things like square footage, the number of bedrooms and bathrooms, lot size, and unique amenities. For example, does your home have a pool or a newly renovated kitchen? How old is the roof, or the heating and cooling systems?

The Realtor also looks at market trends, including how many homes are currently for sale and how quickly they’re selling. Active, pending, and even expired listings are all considered to understand competition and pricing strategies.

By combining all this data, your Realtor creates a detailed report to help you price your home competitively. The goal? To attract the RIGHT buyers while maximizing your return.

And that’s why choosing a Realtor who knows how to perform a CMA effectively is such an important step in the selling process.