What is a comparative market analysis and how to request a CMA?
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
To have a comparative market analysis performed on a specific property please fill out the form below.
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. As buyers or sellers, it is important to request a CMA report to establish the current fair market value of a home. 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.
When you Request a CMA we use our market insight to find 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 Lake Minnetonka market.