When performing a Comparative Market Analysis (CMA), adjustments are always made to which property?

In the context of a Comparative Market Analysis (CMA), adjustments are primarily made to the comparable properties. This is done to account for differences between the subject property and the comparables, ensuring that a more accurate comparison can be made regarding their values.

When analyzing the comparables, the goal is to identify how each one may differ from the subject property in factors such as size, location, condition, and features. For instance, if a comparable property has an extra bedroom or a larger lot size compared to the subject property, an adjustment must be made to the value of that comparable to reflect the differences. This process helps establish a fair market value for the subject property based largely on the adjusted values of the comparables.

In contrast, adjustments are typically not made to the subject property itself. The subject property's characteristics and conditions are considered static factors against which the comparables are evaluated. Therefore, adjustments are focused solely on the selected comparable properties to ensure they accurately reflect the market dynamics relevant to the subject property.