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What is a Comparable Market Analysis?

Looking to buy or sell a home in Hawaii? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation to see what buyers will pay for your home in today's market. You may also call us at (808) 426-7211 for a FREE home buying or selling consultation to answer any of your real estate questions.

People ask us all the time what a CMA (Comparable Market Analysis) is. Today we would like to clear things up. Before we get to what a CMA is, we want to make sure you know what a CMA is NOT. 

A CMA is NOT an appraisal and it is NOT a tax-assessed value of your home. An appraisal costs around $500 and is paid for by the buyer and ordered by the buyer's lender. A tax assessed value is created by the county where your home is located and is used to determine how much property taxes you will be paying each year, but it should never be used to determine the value of your home.

So, what is a CMA? In a CMA, we take a look at homes that have sold in the last 6 months that are similar to your home, in both size and location. We also look at homes
that are actively for sale to see what kind of competition your home has, and homes under contract to determine how quickly you can get to escrow.

By taking a look at these factors, as well as the number of SOLD homes, we can determine what the current market conditions are for the subject property. The subject property would be your home if you are looking to sell, and the home you are looking to purchase if you are looking to buy. This allows us to make an apples-to-apples comparison so we can give you the most accurate information possible.

If you are curious about what your home is worth or want to know if a home you are interested in is priced correctly, check the links above or below. If you have any questions, feel free to give us a call or send us an email. We look forward to hearing from you!