Step-by-Step Guide to Doing a CMA
1. Gather Subject Property Information
- Address
- Square footage
- Number of bedrooms and bathrooms
- Lot size
- Year built
- Condition and upgrades
2. Select Comparable Properties (“Comps”)
Look for:
- Recently sold homes (ideally within the last 3–6 months)
- Similar size (within 10–20% of the subject property)
- Similar age and condition
- Same neighborhood or school district
3. Adjust for Differences
Adjust the sale prices of the comps to account for differences such as:
- Square footage
- Number of bedrooms/bathrooms
- Renovations or upgrades
- Lot size
- Garage or pool
4. Analyze Market Trends
Consider:
- Whether the market is trending up or down
- Average days on market
- Inventory levels (supply vs. demand)
5. Calculate the Estimated Value
- Take the adjusted prices of the comps
- Average them or use a weighted average based on similarity
- This gives you a price range or a specific estimated value
6. Create a CMA Report (Optional)
If you’re a real estate agent or presenting to a client, include:
- Summary of subject property
- List and details of comps
- Adjustments made
- Charts or graphs showing market trends
- Final estimated value
Would you like help creating a CMA report template or analyzing a specific property? I can also help you find comps if you provide a location and property details.
