A Comparative Market Analysis, or CMA, is a tool that real estate professionals use to estimate the fair market value of a property. It’s based on recent sales of similar properties in the same area—also known as “comps.” While not as formal as an appraisal, a CMA gives investors a quick and reliable way to determine whether a property is priced appropriately. For Meridian investors, it helps validate a deal before purchase and ensures you’re not overpaying, especially in competitive or unfamiliar markets. A good CMA should factor in square footage, age, location, and upgrades to give an apples-to-apples comparison.
