Real Estate Word of the Day: Comparative Market Analysis
Posted by Tom Crimmins Realty on
Real Estate Word of the Day: Comparative Market Analysis
Comparative Market Analysis (CMA) is an evaluation of similar, recently sold properties, or comparables, in a specific area. It provides valuable insights into the current market conditions, helping stakeholders determine the fair market value of a property. CMAs consider various factors, including location, size, age, condition, and amenities, to accurately assess a property's worth.
When conducting a CMA, real estate professionals analyze recent sales data of properties that closely resemble the subject property. These comparables serve as benchmarks for determining the property's value. Additionally, CMAs may also consider active listings and expired listings to gauge market trends and…
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