What is a Comparative Market Analysis (CMA) considered in real estate?

A Comparative Market Analysis (CMA) is classified as a valuation service because it involves a detailed analysis of similar properties in a specific area to determine a likely market value for a subject property. Professionals conduct a CMA by examining the characteristics of recently sold, active, and expired listings and comparing these elements with the subject property in terms of size, location, age, condition, and amenities.

This analysis provides valuable insights into market trends and property values, helping sellers set competitive listing prices and helping buyers make informed offers. The CMA serves to estimate the fair market value of a property based on real market data, making it an essential tool for appraisers, real estate agents, and brokers in the valuation process. Thus, categorizing a CMA under valuation services accurately reflects its role in determining a property's worth in the real estate market.