What a CMA is, and isn’t
A CMA compares your home with similar homes that have sold recently, adjusting for differences, to suggest a likely price range. It also considers homes currently for sale and pending, because they show what buyers are choosing among right now.
- Not an appraisal: an appraisal is prepared by a licensed appraiser, usually for a lender, under professional standards. A CMA is an agent’s opinion.
- Not an online estimate: automated estimates use public records and algorithms. They can’t see your remodeled kitchen, your failing roof or the busy road behind your fence.
- Not a guarantee: the final price depends on buyers, timing, condition and negotiation.
How comparable sales are chosen
Good comparables are similar to your home in the ways buyers care about most:
- Location: the same neighborhood or subdivision if possible, and the same jurisdiction. City and county lines change taxes and services.
- Recency: sales from the last few months reflect current conditions best.
- Size and layout: similar square footage, bedrooms, bathrooms and number of stories.
- Lot: similar lot size and setting; a large lot or a view can change value significantly.
- Age and condition: similar construction era and level of updating.
In tract neighborhoods, there may be recent sales of the same floor plan. For custom homes, rural parcels and acreage, comparables are fewer and more varied, which makes the reasoning more important, as our rural Elk Grove selling guide explains.
Adjustments: making apples to apples
No two homes are identical, so each comparable is adjusted for differences. If a comparable has a pool and your home doesn’t, its price is adjusted down; if your home has a newer roof, the comparison reflects that. Adjustments are judgments based on what buyers have paid for such differences, not fixed amounts.
Common adjustments
- Square footage, bedrooms and bathrooms
- Lot size, view, location on the street, and noise from roads, rail or aircraft
- Condition and updates: kitchen, bathrooms, flooring, roof, HVAC
- Features: pool, solar, garage spaces, RV parking, outbuildings
- Costs: special taxes and HOA dues, which affect what buyers can afford
Why price per square foot can mislead
Price per square foot is a useful quick check, but it hides a lot. Smaller homes usually sell for more per square foot than larger ones; lots, views and condition aren’t captured; and a single unusual sale can skew an average. Use it as one signal, not the answer.
How to read a CMA
- Look at which sales were chosen and why. Are they truly similar?
- Read the adjustments and the reasons for them.
- Note the active and pending listings: they are your competition.
- Look at the suggested range, not a single number, and the strategy behind the recommended list price.
- Ask questions. A good CMA should be explainable.
Local factors matter too: special taxes in Roseville, the city transfer tax in Sacramento, or HOA layers in Gold River.
Requesting one from Dan
You can request a comparative market analysis for your home. Dan reviews each request personally, rather than sending an instant automated estimate, and may ask about updates and condition. If you’re preparing to sell, our guide to preparing your home for sale and Dan’s selling process explain the next steps. You can also contact Dan with questions.
A comparative market analysis is an opinion of price based on available information. It is not an appraisal and does not guarantee a sale price or timeline.
Common questions
- Is a CMA the same as an appraisal?
- No. An appraisal is prepared by a licensed appraiser, usually for a lender, under professional standards. A CMA is a real estate agent’s opinion of a likely price range, used to help set a list price or evaluate an offer.
- Why is my online estimate different from the CMA?
- Automated estimates rely on public records and algorithms and can’t see condition, updates or the details of your lot and location. A CMA adjusts for those factors, so the numbers can differ.
- How often should a CMA be updated?
- Markets change, so a CMA reflects conditions when it’s prepared. If several months pass before you list, or conditions shift, ask for an update.
Official sources
Records and rules are parcel-specific, so look up the exact address with the responsible agency.
- California Department of Real EstateConsumer information and license lookups.(opens in a new tab)
- CFPB: Buying a houseFederal guidance on loan estimates, closing costs and shopping for a mortgage.(opens in a new tab)
- Sacramento County AssessorParcel lookups, assessed values and property characteristics.(opens in a new tab)
- IRS Topic 701: Sale of your homeFederal rules on excluding gain from the sale of a main home.(opens in a new tab)
- HUD Fair HousingFair housing rights for buyers, sellers and renters.(opens in a new tab)
Local rules, districts and fees change. This guide is general information, not legal, tax, insurance or lending advice, and it describes places by property, travel, costs and services, never by who lives there.