A comparative market analysis, or CMA, is the document that answers the most important question in real estate: what is this home actually worth? It is not a guess and it is not the tax assessor's number. It is a research-based estimate built from real sales data.
To build a CMA, I look at homes that are truly comparable to yours: similar size, age, condition, lot, and location, ideally sold within the last three to six months. Then come the adjustments. A home with a pool, a remodeled kitchen, or a better view commands a different price than the last-door twin without them. The CMA accounts for all of it.
For sellers, the CMA sets the list price with evidence behind it. The goal is not the highest possible list price, it is the price that attracts the strongest offer in the shortest time. Homes priced at market or slightly below consistently outsell overpriced homes, and they usually net out ahead once you count carrying costs and months of showings.
For buyers, the CMA is your ammunition at the offer table. When a seller is asking more than the data supports, your agent can show the comps and negotiate with facts instead of feelings. One of my clients described the result better than I could: I knew what the home was realistically going to appraise for, and I used the surrounding sales to negotiate a reduction that was larger than the value of the $20,000 of furnishings that came with the house.
A CMA is also a reality check. If a home appraises below the agreed price, the deal can collapse or require renegotiation. Knowing the number before you write the offer keeps that surprise off the table.
Ready to see your number? Reach out and I will prepare a free CMA for your home, or show you the comps behind any home you are considering.
Angie Rivers, The Ralston Team
A Phoenix-area realtor who treats home buying and selling like a family affair: listen first, advocate fiercely, stay in your corner long after closing.
Work with Angie