Request CMA

What is a (CMA) comparative market analysis?

A Comparative Market Analysis (CMA) is an evaluation of similar, recently sold homes (called comparables or comps) that are near a home or homes that you want to buy or sell. Buyers, sellers, or real estate agents perform a CMA report to establish and find a fair price range for the home the report is created for. The price range from the CMA can then be used as a guide to be used for establishing an offer price or a listing price.

Basically, performing a CMA involves finding the homes that are similar to the home under consideration, and creating an in-depth comparison of its size, age, location, and features of the home. It all comes down to one question: compared to other, comparable homes in this area, how much is this home worth? Answering that question involves looking at a fair amount of data on other homes in the current market.

The process for doing a comparative market analysis includes:

Defining criteria for selecting comparables in close range to the home

  • Determine a list of quality comparables
  • Evaluate the comparables within close range to the home
  • Adjust comparable values for differences in size, condition, location, amenities, etc
  • Estimate the ideal value of your target home based off the findings

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Testimonials

Lane is the best realtor I ever had. He answered all my questions as we looked at different houses, and if he didn’t know the answer to a question, then he asked the right person to get the answer for me. He actually went in the attic at one house to check the furnace for me. He looked for entry to a crawlspace of another house and noticed the downspout was blocked shut. He checked the cooling system in another house and we discovered it didn’t work. He saw things that I would have otherwise…
Bought a Single Family home in 2016 for approximately $100K in Caroline Village, Winston Salem, NC.