What Is a Comparative Market Analysis (CMA) and Why It's Key to Selling Well

What Is a Comparative Market Analysis (CMA) and Why It's Key to Selling Well When someone asks "how much can I sell my property for?", the professional answer isn't a hunch: it's a comparative market analysis, or CMA. It's the foundation for setting a realistic, defensible price. What a CMA is It's a study that compares your property with similar ones in the same area both those that have already sold and those still on the market to estimate what buyers are willing to pay today. What a good CMA includes - Comparable properties: homes similar in location, size, age, and condition. The more similar and recent they are, the more reliable the result (ideally five or more). - Actual sale prices, not just asking prices: what's asked and what actually closes can be very different. - Adjustments for differences: if your property has better finishes or extra parking, or is in worse condition than a comparable, the value is adjusted accordingly. - Time on market: how long similar properties took to sell helps you anticipate your own timeline. How to read it The result is usually a range, not a single number. Within that range, the price you choose depends on your strategy: a price toward the higher end can work if you're in no rush; a more competitive one helps you sell faster. What a CMA is not It's not a formal appraisal. An appraisal is carried out by an authorized appraiser and is used for specific procedures, such as mortgage loans. A CMA is a market reference to help you decide your listing price. A well-supported price sells better Walking into a negotiation with a data-backed price gives you confidence with buyers and helps you avoid both the overpricing that stalls a sale and the underpricing that costs you money. Want a comparative analysis of your property? Talk to a Vivra advisor.