TheCMA, which stands for “Comparative Market Analysis” in English or “Analisis Comparativo de Mercado” in Spanish, is a detailed evaluation of the value of a property that is made by comparing it with similar properties that have recently sold in the same geographic area.
The primary goal of a CMA is to determine the current market value of a property based on recent sales of comparable properties, also known as ” comparable” or “comps”. To perform a CMA, a real estate broker or property appraisal professional examines key characteristics of the property, such as size, location, age, state of maintenance, amenities and other features, as well as then search for similar properties that have recently sold in the same area.
Once comparable properties have been identified, the CMA uses information about the sales prices of these properties to determine a value range for the property. property subject to appraisal. The CMA may also take into consideration factors such as the current state of the real estate market, price trends in the area, and other variables that may affect the value of the property.
In conclusion, the CMA is a useful tool for both property buyers and sellers, as it provides an objective estimate of the market value of a property. property at a given time. This can help sellers set a competitive price for their property and buyers make informed, more confident decisions about how much to offer for a particular property.