TRENDING: H&R REIT Sells Canadian Pacific Building For $20.2M

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

Recourse Loan

A recourse loan is a type of loan where the lender can pursue the borrower’s personal assets, beyond the collateral, in the event of default.. more

Pari Passu

A pari passu clause is a contractual provision ensuring that multiple creditors share equally in repayment priority from the borrower’s assets.. more

Non-Recourse Loan

A non-recourse loan is a type of loan where the lender’s only remedy in case of default is to seize the collateral property; the borrower is not. more

Net Operating Income

Net operating income (NOI) is the total income generated by a property after operating expenses are deducted but before taxes and financing costs.. more

Mechanic's Lien

A mechanic’s lien is a legal claim by a contractor, subcontractor, or supplier for unpaid work or materials provided for a property.. more

Lis Pendens

Lis pendens is a legal notice filed in the land registry indicating that a property is subject to ongoing litigation that may affect its title.. more

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