What is the main purpose of a Comparative Market Analysis (CMA)?

The main purpose of a Comparative Market Analysis (CMA) is to estimate a property's value. A CMA involves examining the sales prices of similar properties in the same area that have recently sold, are currently on the market, or were listed but did not sell. By comparing these properties, real estate professionals can provide sellers and buyers with a valid estimate of what a property is worth based on current market conditions.

This analysis not only helps sellers price their homes competitively but also assists buyers in understanding what they should expect to pay for similar properties. Ultimately, the accurate assessment provided by a CMA is crucial for informed decision-making in real estate transactions.

While understanding current rental rates, analyzing market trends, and generating marketing strategies are all important aspects of real estate, they serve different purposes and are not the primary goal of a CMA.