A CMA represents what kind of value?

A Comparative Market Analysis (CMA) is designed to provide a range of suggested selling prices for a property based on the analysis of similar properties that have recently sold in the area, as well as those currently on the market. It is an essential tool used by real estate professionals to help sellers determine a competitive listing price and assist buyers in making informed offers.

The CMA takes into consideration various factors such as size, age, condition, location, and recent sales data, allowing agents to suggest a price range rather than a specific value. This range is useful because it reflects market conditions and the fluctuations that can occur, ensuring that sellers adjust their expectations according to the current real estate environment.

In contrast, the other options represent different types of value that do not capture the purpose of a CMA. For instance, a definitive property value implies a fixed price, which does not align with the range approach of a CMA. Appraisal values and tax assessments serve different roles in real estate transactions and may not reflect the current market dynamics or selling behavior, thus are not the focus of a CMA.