Short Answer
A CMA, or comparative market analysis, is a report prepared by a real estate agent that estimates your home's value based on recently sold comparable properties, active listings, and expired listings. It helps you price your home competitively, understand market conditions, and make informed decisions about buying or selling. Unlike an appraisal, a CMA is typically free and tailored to your specific home.
A CMA is one of the most valuable tools an agent provides. It typically includes three sections. Sold properties are homes similar to yours that have sold recently, showing what buyers have actually paid. Active listings show homes you will be competing with on the market. Expired or withdrawn listings show homes that did not sell, often because they were overpriced. Your agent will analyze each comparable, making adjustments for differences in square footage, bedrooms, bathrooms, condition, lot size, and special features. The result is a recommended price range for your home. For buyers, a CMA helps determine whether a listing is fairly priced and what a reasonable offer might be. A CMA is not the same as an appraisal, which is a formal valuation required by lenders, but it is a practical tool for pricing decisions.
Bob's Advice
Redfin Senior Agent · AI Certified Agent
I include a detailed CMA with every free home valuation I provide. I do not just show you numbers. I explain what they mean and how they apply to your specific home. If you want to understand what your home is worth and why, a CMA is the best place to start. Let me prepare one for you with no obligation. Knowledge is the first step to making a confident decision.
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