MARKET ANALYSIS

Comparative Market Analysis (CMA) in Florida: What It Is and How to Do It

A comparative market analysis (CMA) is the process of determining a home's market value by analyzing recent sales of comparable properties. Every pricing decision in Florida real estate — whether by an agent or a seller — is based on CMA methodology.

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What a CMA Includes

A CMA compares your home to 3–5 recently sold comparable properties (comps) and 2–3 active listings (competing homes). For each comp, a CMA identifies: sale price, price per square foot, days on market, and key property features (beds, baths, square footage, year built, pool, garage, lot size). Then it adjusts for differences between your home and each comp — adding or subtracting value for features your home has or lacks. The result is a probable market value range, typically spanning $15,000–$30,000 on a mid-priced Florida home.

How to Run Your Own CMA in Florida

Step 1: On Zillow or Redfin, filter for sold homes within 1 mile in the last 6 months, 2 beds within your bedroom count, 90% to 110% of your square footage. Step 2: Select the 5 most similar sold properties. Step 3: Calculate price per square foot for each. Step 4: Multiply your square footage by the median price per square foot. Step 5: Adjust for notable differences — pool ($15,000–$40,000 in Florida), updated kitchen (+5–8%), garage (1 vs. 2 car, $5,000–$10,000), waterfront premium (location-specific). This gives you a defensible pricing range.

CMA vs. Appraisal vs. Zestimate

A CMA is a real estate agent's estimate of market value, prepared for listing price guidance — free, done by agents. An appraisal is a licensed appraiser's formal estimate of market value, used by lenders — $400–$600, legally defensible. A Zestimate is Zillow's algorithm-generated estimate — free, often 5–15% off in Florida markets. For pricing, use CMA methodology (either agent-prepared or DIY using sold comps). For buyer financing, the bank-ordered appraisal controls the sale.

FREQUENTLY ASKED QUESTIONS

Common Questions

How do I get a free CMA in Florida?

Any Florida listing agent will prepare a free CMA in exchange for a listing appointment. You can also request a free CMA from Flat Fee MLS Sells before deciding on a listing strategy. Alternatively, run your own using Zillow/Redfin sold data — the methodology is accessible with 30 minutes of research.

How accurate is a CMA?

A well-prepared CMA using recent, comparable sold data in an active market is typically within 2–5% of actual sale price. In slower markets with fewer comps, the range widens. The primary risk is using older comps (6–12 months) in a changing market — always use the most recent data available.

Does my home's CMA value determine what a buyer will pay?

No — a buyer's lender orders a formal appraisal that independently determines value. If a buyer's appraisal comes in below the contract price, the parties must negotiate a price reduction or the buyer pays the difference in cash. Pricing accurately initially reduces appraisal gap risk.

How often should I update my CMA?

If your home has been listed for 30+ days without an offer, run an updated CMA using the most recent sold data. Markets can shift in 60–90 days, and an accurate CMA supports a strategic price reduction decision.

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