Comparative Market Analysis (CMA)

A CMA helps sellers understand where their property sits in the current market by comparing it with similar homes that have recently sold. It considers factors such as property size, condition, location, land value, improvements and days on market for comparable properties. Unlike a formal valuation, a CMA incorporates local knowledge, upcoming listings, buyer behaviour and on-the-ground insights that only active agents have access to. A strong CMA highlights pricing trends, supply and demand levels, and the likely buyer profile for your home. While the report provides data, its accuracy depends heavily on the skill and experience of the agent producing it. A weak CMA can lead to overpricing, underpricing or a lengthy days-on-market period. A strong CMA, paired with expert interpretation, forms the foundation of an effective pricing and marketing strategy.

Practical Example

You invite an agent to appraise your home and they prepare a detailed CMA based on six recently sold properties in your suburb. The report shows that renovated homes with similar layouts sold between $1.15 million and $1.22 million. Your agent walks you through each comparable sale, explaining why certain properties sold higher or lower and how buyer demand has shifted in the last few weeks. They also highlight that two similar properties are about to hit the market which may affect competition and timing. Based on this analysis, the agent recommends a pricing strategy that balances accuracy with buyer engagement. When you list your property, strong early enquiry leads to multiple offers, and the final sale price exceeds the upper end of the CMA range.

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