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What is a CMA in Real Estate?

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What is a CMA? The short answer is that a CMA is a Comparable Market Analysis.

The purpose of a CMA is to arrive at an understanding of market value for a specific property.

When a Seller asks me to list their home for sale, we review together my Comparable Market Analysis - the CMA. The key elements of a CMA are the relevant comparable sale events - the comps.

For example, let's say a Seller owns a 1,000-square-foot, renovated, two-bedroom, one bath condo without parking in Cambridge. The CMA I put together will review the relevant comps - that is, the relevant properties in Cambridge that are similar. In this example, I will be reviewing in the CMA the recent condo sale events in Cambridge for those condos with approximately 1,000 square feet, two bedrooms, one bath and no parking.

Of course, no two properties are the same. These are the key elements that influence an understanding of a property's value...

Continue Reading: https://www.cambridgerealestate.com/b...

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