How to Perform a CMA (Comparative Market Analysis)
A Comparative Market Analysis (CMA) helps sellers estimate a property's fair market value by comparing it to similar homes that recently sold nearby. If you’re new to the concept, start by reading What Is a CMA in Real Estate? to understand the basics before you follow these steps to create one yourself.
1️⃣ Collect Comparable Properties
Start by finding at least three recently sold properties similar to yours in location, size, age, and condition. Use MLS data, Realtor.com, or Zillow for reference. Ideally, your comps should be:
- Within one mile of your home
- Sold in the past 3–6 months
- Similar in square footage and lot size
- Comparable in features like bedrooms, bathrooms, and upgrades
2️⃣ Adjust for Differences
No two properties are identical, so make adjustments to reflect value differences. For example:
- Subtract value for missing features (no pool, smaller lot, older roof)
- Add value for upgrades or premium amenities (new kitchen, lakefront lot)
- Adjust for market trends if prices have risen or fallen since comparable sales
3️⃣ Calculate Your Estimated Value Range
Once you’ve made your adjustments, average your comparable prices to create a pricing range — typically within ±3% of your estimated value. This gives you a realistic list price that reflects true market conditions.
4️⃣ Validate with Active Listings
Check your findings against current listings in your neighborhood. If your CMA value is higher than active listings, you may be overpriced. If it’s significantly lower, you might be undervaluing your home. Use this step to fine-tune your final asking price.
🏡 Perform a CMA and List on the MLS with Brokerless
Brokerless helps FSBO sellers list directly on the MLS — where your property gets the most visibility. Combine your CMA insights with a Flat Fee MLS Listing to reach serious buyers on Zillow, Realtor.com, and hundreds of local agent sites.
💡 Ready to list your home or land? Explore Flat Fee MLS Packages and get listed today.