What is a CMA?You may often hear Real Estate Agents refer to "CMAs" as in a Comparative Market Analysis. This is the manual version of the Automated Valuation Model or AVM the most famous of which is the Zillow "Zestimate". Quite possibly as famous being inaccurate as anything else.
AVMs utilize algorithms of recently sold properties but have no specific insight as to whether your home has more or less upgrades or other amenities than other properties based on SqFt, age, lot size etc. In other words you just spent $40K on a new kitchen and the AVM shows the same value as your neighbors home with the original kitchen.
So in theory, the Realtor who is manually compiling the data and supposedly can discern the difference in the properties should come out with a better final data crunch. In theory because if a wrong comp is added or a good one left out then the CMA is useless and defeats the purpose.
Click on the graphic above for the North Redondo Beach Market Report - the foundation for the CMA. If you like what you see, you can log in and create your own for your home or contact us for a personalized report.