How can I do a market comparison?

A market comparison, or CMA, involves looking at similar recently sold homes in your area. You’ll compare size, condition, location, and features to estimate your home’s value. Most real estate agents provide a complimentary CMA to help sellers price their home accurately.

The quickest way to get a ballpark is to look at what similar homes in your area have actually sold for in the last 3 to 6 months. Not what they're listed for, what they closed at. Those are two very different numbers. You can start by pulling up recent sales on Zillow, Redfin, or Realtor.com and filtering for homes that match yours in size, beds, baths, lot size, and condition within about a mile radius. Look at 3 to 5 comparable sales and you'll start to see a range. Pay attention to price per square foot because that's the fastest way to compare apples to apples even when homes aren't identical. That said, online comps only get you so far. They can't account for your specific upgrades, the condition of your home versus what sold, or neighborhood-level differences that affect value. A house backing up to a pond and a house backing up to a highway in the same zip code are not the same thing, but an online search treats them like they are. The better move is to ask a local agent for a CMA, which stands for comparative market analysis. It's free, it's not an appraisal, and it doesn't commit you to anything. A good CMA uses the same comparable sales approach but factors in condition, location nuances, and current market trends that a website can't see. It'll give you a realistic price range so you can decide whether selling makes financial sense before spending $400 to $600 on a formal appraisal. Barrett Henry Broker Associate | REALTOR® RE/MAX Collective · The NOW Team Tampa Bay, Florida nowtb.com

What you are describing is a CMA, a comparative market analysis, and you do not need a full appraisal to get one. Any local real estate agent will run one for you at no cost, typically as part of an initial conversation about listing. It pulls recent sales of similar homes in your area by size, condition, and location and gives you a realistic price range based on what buyers are actually paying right now, not an automated estimate. You can also get a rough ballpark yourself using Zillow, Redfin, or Realtor.com by filtering sold homes in your zip code from the past 90 days that are similar to yours in square footage and bed and bath count. The agent CMA will be more accurate since it accounts for condition and specific neighborhood nuances that online tools miss, but the sold comps search is a solid starting point before you commit to anything.

Talk to a local REALTOR with knowledge of your area and have them view the home in person to give you the best idea of the market trends based on the condition of your home. The online evaluators are only as good as the knowledge it has of your particular home... They do not walk through it and factor in the details of the home to see the true value. There are many factors that go into this and keep in mind an appraiser will only look at the last 6 months in most cases and they do not look at the current active homes on the market. Both of these come into the factor of what your home will sell for in a current market.

How can you do a market comparison to estimate your home’s value before an appraisal? The short answer: you’re looking for a Comparative Market Analysis (CMA). This gives you a realistic price range based on what similar homes have actually sold for, not just what they’re listed at. Here’s how it works in a practical sense: 1. Look at recently sold homes (not just active listings) Focus on properties that have closed in the last 3–6 months. These reflect what buyers were actually willing to pay. Similar square footage Similar lot size Same general location or town Comparable condition and features 2. Adjust for differences No two properties are identical, so you adjust: More acreage or waterfront → upward adjustment Needed repairs or dated condition → downward adjustment Garages, outbuildings, or upgrades → value add This is where most online estimates fall short. They don’t truly account for condition or rural property nuances. 3. Factor in current market conditions What’s happening right now matters just as much as past sales: Low inventory = stronger pricing High days on market = more negotiation Seasonal timing (especially in Northern NH) can shift demand significantly 4. Establish a realistic range, not a single number A good CMA doesn’t give you one price, it gives you a range based on: “As-is” condition Potential improvements Pricing strategy (faster sale vs. testing the market) Local insight (Northern NH / Groveton area): In smaller markets like Northumberland (Groveton), pricing can vary more than in larger cities because inventory is limited and buyers are more specific. Things like road access, acreage usability, and well/septic systems can have a bigger impact than people expect. Bottom line: A CMA is the best way to get a reliable value range before committing to an appraisal. It helps you decide if selling makes sense and how to position the property when you hit the market.

Look at recent sold homes, not active listings. Find properties similar in size, age, condition, and location that sold within the last 3–6 months. Adjust for differences like updates, lot size, garages, or condition. That gives you a realistic value range, not a guess.

A market comparison, often called a CMA, looks at recently sold homes that are similar in size, location, condition, and features. The most accurate comparisons focus on sales from the last three to six months and stay within the same neighborhood when possible. Online estimates can be a starting point, but they miss nuance like condition, layout, upgrades, and street-specific differences. A proper comparison adjusts for those factors and reflects what buyers are actually paying, not just what sellers are asking. If you want a realistic value range without paying for a full appraisal, a CMA is the right first step.

Unless you are a licensed Agent or Broker you should not try to do a market analysis. You likely will make many mistakes that could be costly. Call a good Realtor to help you. This is very often a free service as well!

Good morning, Give me your address and email and I will do one for you. [email protected]

Hi Jailene, Your best bet for an accurate Market Comparison would be to contact a local Realtor® and ask them to do one for you. It is free and the agent can get you pretty close to what your house would sell for. Pick an agent with good reviews. Call them on the phone, and leave a message if they don't answer.

Don't do an appraisal yet!!! A local agent will usually do a free Comparative Market Analysis, called a CMA. This will give you a great idea of what your home can sell for.

I can refer someone local in your area to run numbers. We have a large network of agents, happy to help!

Hi Jailene, When considering selling your home, I like to suggest you act as a "buyer". Search homes for sale similar to yours. Go to open houses and compare your home to others on the market. Most importantly, research local realtors. Find the realtors offering the most professional marketing with the best online review. Choose one or two who can provide you with a complimentary Comparable Market Analysis (CMA). You are under no obligation to list and will have a comprehensive snapshot of valuation.