What is a comparative market analysis?

A comparative market analysis (CMA) is a document done by real estate professionals to compare the values of homes in a certain neighborhood. This comparison is used by buyers and sellers to help them decide how much to list or offer for a particular property. The analysis looks at the market trends for the area, such as recent sales and listings, and looks at features like square footage, lot size, amenities, and location. In South Dakota, the Department of Real Estate regulates all aspects of residential real estate, and a CMA is a valuable tool for buyers and sellers to use when making decisions. A CMA provides an accurate estimate of recent selling prices in the same area, which can be used with other market information to determine the current value of a property. This information can be invaluable for buyers and sellers looking to make an informed decision when buying or selling a home, and thus is an important service for real estate agents to provide.

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What is a comparative market analysis?

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