How to Read a Comparative Market Analysis (CMA)

If you’re thinking about selling your home—or even just curious about its value—you’ve probably heard the term Comparative Market Analysis (CMA). But what exactly is a CMA, and how do you make sense of all those numbers, charts, and property details?

Let’s break it down step by step so you can feel confident using this powerful tool to make smart real estate decisions here in Washtenaw County and beyond.

What is a CMA?

A Comparative Market Analysis is a report prepared by a real estate professional that estimates your home’s current market value. It compares your property to similar homes (“comparables” or “comps”) that have recently sold, are currently listed, or were on the market but didn’t sell.

Think of it as a snapshot of the local market that shows you where your home fits in.

What’s Inside a CMA?

A good CMA includes several key sections:

Recently Sold Homes – These are the best indicators of what buyers are actually willing to pay.

Active Listings – Shows your competition if you’re about to list.

Pending Sales – Offers insight into where pricing trends are heading.

Expired/Withdrawn Listings – Reveals what buyers aren’t willing to pay.

Other details may include average days on market, price per square foot, and trends over the past 6–12 months.

How to Read a CMA Like a Pro

1. Look Beyond the Price Tag

It’s tempting to focus only on the numbers, but consider how the homes compare in:

Size (square footage and lot size)

Condition (updated vs. needs repairs)

Location (school district, walkability, neighborhood appeal)

Features (finished basement, garage, outdoor space, etc.)

Two homes might be priced the same, but if one has a fully renovated kitchen and the other doesn’t, the buyer demand will differ.

2. Pay Attention to Market Trends

Is the average price per square foot going up, holding steady, or slipping? Are homes selling over asking or with price reductions? In August 2025, for example, Washtenaw County’s market is balancing out after a few intense years—buyers have more options, but well-priced homes are still moving quickly.

3. Notice Days on Market (DOM)

If comparable homes are selling in under two weeks, that means pricing aggressively is key. If they’re sitting for 45+ days, buyers may be pushing back on price or waiting for deals.

4. Use Expired Listings as a Warning Sign

Homes that didn’t sell often reveal what happens when sellers overprice. If you see multiple expired listings in your CMA, it’s a signal to price smartly from the start.

Why a CMA is Better Than Online Estimates

Websites like Zillow and Redfin can give you a ballpark figure, but they don’t know if your kitchen was remodeled last year or if your neighborhood just had a surge of demand. A CMA prepared by a local agent takes into account real-world details and professional expertise.

Understanding your CMA is just the first step. If you’d like a personalized market analysis for your home in Washtenaw County or surrounding areas, our expert team is here to help. Register on our website today to request your free CMA and see what your home is really worth in today’s market.

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Written by LIVgreat Real Estate, your trusted Washtenaw County real estate experts.
Email: hello@livgreatrealestate.com
Website: https://livgreatrealestate.com

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