What is a CMA?
(Comparative Market Analysis)
A CMA is a written report which compares your home to homes of similar size and with similar features in your neighborhood which are currently on the market. A CMA also often includes a listing of homes like yours which have recently sold (and how long they have been on the market for), and a listing of homes which have failed to sell.
By looking at these various types of properties and their respective prices, a real estate agent can help you determine a successful market price for your home.
The CMA is usually a two-step process: after gathering all necessary information about your home (which should include a personal inspection by the agent), the real estate agent will then contact you again with the data and estimated value of your house.