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Comparable Market Analysis (CMA)

Learn how a comparable market analysis (CMA) works in Canadian real estate and how it helps buyers and sellers determine property value.

Comparable Market Analysis (CMA)

June 06, 2025


What is a Comparable Market Analysis (CMA)?

A comparable market analysis (CMA) is a pricing report prepared by real estate professionals to estimate a property’s market value based on recent sales of similar homes.

Why Comparable Market Analysis Matters in Real Estate

In Canadian real estate, CMAs are used by buyers, sellers, and agents to evaluate pricing and make competitive offers or listings.



A CMA typically includes:
  • Sales of nearby properties with similar features
  • Active listings and expired listings
  • Price per square foot comparisons
  • Adjustments for upgrades or deficiencies



While not a formal appraisal, a CMA provides insight into current market trends and helps avoid overpricing or underbidding.



Understanding CMAs is crucial for accurate home pricing, informed negotiation, and evaluating investment opportunities.

Example of Comparable Market Analysis in Action

Before listing her home, the seller’s agent conducts a CMA that compares five recently sold properties with similar size and condition.

Key Takeaways

  • Estimates property value using similar sales
  • Used for pricing, listing, and offers
  • Prepared by licensed real estate agents
  • Reflects current market trends
  • Not the same as a formal appraisal

Related Terms

  • Appraisal
  • Fair Market Value
  • Market Value
  • Listing Price
  • Sales-To-New-Listings Ratio (SNLR)

Additional Terms

Sellers' Market

A sellers' market occurs when demand for real estate exceeds available supply, giving sellers more negotiating power and often leading to higher. more

Special Assessment

A special assessment is a one-time fee levied on condominium owners to cover unexpected or underfunded major repairs, upgrades, or emergencies.. more

Environmental Assessment

An environmental assessment is a formal process used to evaluate the environmental impacts of a proposed real estate development or land use change.. more

Condominium Bylaws

Condominium bylaws are the rules and regulations set by a condo corporation that govern how residents, owners, and the condominium board must use and. more

Building Maintenance

Building maintenance refers to the routine upkeep, repair, and inspection of a property’s systems and structure to preserve functionality, safety,. more

Tenant Rights

Tenant rights refer to the legal protections and entitlements that tenants have under provincial residential tenancy laws in Canada.. more

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