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What Is a Comparative Market Analysis?
A comparative market analysis is an examination of the prices at which similar properties in the same area recently sold.
Real estate agents perform a comparative market analysis for their clients to help them determine a price to list when selling a property or a price to offer when buying a property.
When is Acquiring a Comparative Market Analysis Essential?
Before listing your property, your Realtor will perform a CMA to get an overall sense of the market value. Having a CMA on hand prepares them to address any questions you may have about the market. After the appointment, your Realtor will run an updated CMA, incorporating what they learned when visiting the neighborhood and touring the property.
Would you like to know if the real estate you are interested in is a good deal? A CMA can help you determine if a property is priced right!