If you’ve ever caught yourself wondering, “What could my home sell for?” you’re not alone.
Home value is one of the most common questions homeowners ask, and it makes sense. Your home is a huge part of your financial picture, and the market can change quickly. Even small shifts in buyer demand, interest rates, or inventory can impact pricing in your neighbourhood.
So how do you get an accurate answer?
The best starting point is a Comparative Market Analysis (CMA).
What Is a Comparative Market Analysis (CMA)?
A Comparative Market Analysis (CMA) is a report created by a real estate professional that estimates your home’s current value compared to similar homes in the same area.
In simple terms, it helps answer this question:
If you listed your home today, what would buyers likely offer?
A CMA looks at the market in real time and uses local data to support a pricing range that makes sense for your property.
Why “What’s My Home Worth?” Isn’t Always a Simple Answer
Many homeowners expect home value to be a straight number, but the reality is that value can vary depending on:
The condition of your home
Recent upgrades or renovations
Layout and overall functionality
Location within the neighborhood
Lot size, garage, basement development, and more
What buyers are actively competing for right now
That’s why two homes with the same square footage can still sell for very different prices.
A CMA helps factor in these differences so you’re not relying on rough averages.
A CMA Helps in More Situations Than You Might Think
Many people assume a CMA is only useful when selling, but it’s valuable in several situations.
If You’re Thinking About Selling
A CMA helps you understand what your home is likely to sell for and how to position it competitively in the market.
If You’re Buying
A CMA can help you evaluate a specific home and determine whether the asking price aligns with what similar properties have sold for.
If You’re Not Selling Yet
A CMA provides homeowners with a baseline for future decisions, tracks equity over time, and supports renovation planning.
Even if you’re staying put, it’s still smart to know where you stand.
What’s Included in a CMA?
A well-prepared CMA is detailed, practical, and rooted in local market activity. It typically includes:
1) Property Details
Information about your home, such as:
Size
Number of rooms
Age
Condition
Features and upgrades
2) Comparable Sales (Comps)
Usually 3 to 5 similar homes that sold recently in your area. These are important because they reflect what buyers actually paid.
3) Current Listings
Active listings show what homes you’d be competing with if you listed today.
4) Pending Sales
Homes under contract can signal where the market is heading, especially in fast-changing conditions.
5) Market Trends
Days on market, neighbourhood activity, and other local indicators can help explain whether pricing is rising, stable, or cooling.
6) Adjustments
No home is identical, so adjustments help account for differences like:
Finished basement vs unfinished
Garage size
Renovations and updates
Lot size and layout
Extra bathrooms or bedrooms
7) Valuation Range
Instead of one exact number, a CMA typically provides a realistic range based on the data.
The Difference Between a CMA and an Online Home Estimate
Online estimates are often based on broad data, and they can’t always account for details that significantly impact value, like:
Renovation quality
Interior condition
Street appeal and presentation
Layout and functionality
Location factors within the community
That’s why homeowners sometimes see online values that feel off or inconsistent.
A CMA is local, specific, and based on actual comparable properties.
Why Having a Value Baseline Helps You Plan
Even if you’re not selling soon, knowing your home’s approximate value can help with:
Planning future life changes
Deciding when to upgrade or renovate
Understanding your equity position
Creating a long-term strategy
A CMA gives you clarity without committing to anything.
Want a Free, No-Obligation CMA?
If you’ve been curious about your home’s value or want a better understanding of what’s happening in your neighbourhood, I’d be happy to run a free, no-obligation Comparative Market Analysis for you.
Just send me a message, and I’ll put it together.
And by the way, I’m never too busy for any of your referrals.
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