When selling your home, deciding on an asking price can be difficult. That’s where a Comparative Market Analysis — CMA for short— comes in.
This report helps paint a picture of your home’s value, taking into account factors such as square footage, the number of bedrooms and bathrooms, the age of the home and its amenities.
A CMA takes into account recent sales of comparable properties in the area. As a seller, think of this report as a means to help evaluate how your home may fare against the competition. It’s not an appraisal. But it can help you get a useful estimate of your home’s value and help you price your home right so that you’re not leaving money on the table or watching your home languish on the market.