What is the primary goal of a comparative market analysis (CMA)?

The primary goal of a comparative market analysis (CMA) is to estimate a property's value by comparing it to similar properties that have recently sold in the same area. This process involves evaluating various aspects of comparable properties, such as size, location, condition, and sales prices. By analyzing these factors, a real estate professional can provide an accurate and informed estimate of the subject property's market value, which is crucial for both sellers setting an asking price and buyers looking to make a fair offer.

Understanding market trends and the characteristics of comparable homes allows agents to position a property effectively within the marketplace. This approach ensures that clients make informed decisions based on current market conditions and helps them achieve better outcomes in their real estate transactions.

The other options, while relevant in various contexts, do not align with the primary function of a CMA. Evaluating marketing effectiveness, creating property histories, or determining financing options are distinct activities that serve different purposes in the real estate process.