Comparative Market Analysis (CMA): An In-Depth Guide
Disclosure: this article is part of a content collaboration.
This article was published by Clever Real Estate on January 4, 2026 (updated June 20, 2026). DealForge founder Alex Wright was quoted as a real estate expert contributor. Read the full piece there.
About the Article
Written by Steve Nicastro and edited by Jon Stubbs, the guide is a comprehensive walkthrough of comparative market analysis — what a CMA is, when to use one versus an online estimator or a full appraisal, how accurate CMAs typically are, and a step-by-step process for doing a basic DIY CMA using Zillow data.
The piece covers the core mechanics agents use: pulling three to six comparable sales from the past 3–4 months in the same neighborhood, adjusting for differences in square footage, condition, features, and lot, and arriving at a defensible list-price range. It also documents when CMAs lose precision — rural markets, slow markets, recently rezoned areas, and unique properties with thin comp sets.
Alex's Contribution
Alex was sourced for his experience as a former Realtor in Bozeman, Montana and Cody, Wyoming with six years of experience in rural markets. His quoted insight appears in the “When CMAs are less accurate” section:
“The problem is listed and sold are two different things. I saw this a lot during the Bozeman boom. Two houses can look similar, but one backs to a busy road, one has mountain views, one was fully updated, one wasn't.”
The surrounding context in the article notes that in slow or rural areas, the fix is to widen the geographic radius, stretch the time window to six months when necessary, and call the listing agents on each comp to understand what's behind the sale price — not just the number.