What is a CMA?
A CMA is a comparative market analysis. This is an analysis of active, and recently sold home similar to yours with a region. It is important to know that a CMA is NOT an appraisal. The value assigned to a home in a CMA is subjective and based upon what a realtor believes he/she can sell the home for.
Conducting a CMA the home will need to be analyzed, and include objective/subjective elements such as; improvements, views, designs, location, proximity, schools, amenities, construction age, number of floors, land area, bedrooms, bathrooms, and square footage.
A CMA will always consider recently sold homes. It may also consider active, pending, and withdrawn listings for an even better idea of prospective value.