Published 16 September 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
A comparative market analysis is an agent’s estimate of your home’s market value, built from recent comparable sales, current competing listings and expired or terminated listings, adjusted for differences such as size, condition, lot or floor, parking and location. It is not an appraisal and carries no lender weight, but a well-built CMA is the most practical pricing tool you have.
What goes into a credible CMA
| Input | What it tells you |
|---|---|
| Recent sold comparables (about 90 days) | What buyers actually paid |
| Active listings | What you are competing against now |
| Expired or terminated listings | Prices buyers rejected |
| Adjustments | Size, condition, lot or floor, parking, location |
| Market context | Sale-to-list ratios and days on market for your area |
CMA vs appraisal vs online estimate
- CMA: agent-prepared, free, used to set a list price or offer.
- Appraisal: prepared for a lender by a licensed appraiser, used for financing.
- Online estimate: automated, useful as a starting range only. See the three compared.
Start with a range
Use the estimator, then ask me for the comparables behind a real CMA.
Free tool — AI home value estimator
Instant Home Valuation
What’s your home
worth today?
Answer six quick questions and get an instant value range built from current Toronto & GTA sale data — property type, size, condition, lot and location all weighted the way a real pricing conversation weighs them. Takes about ninety seconds.
Reading recent GTA sale data…
Building your estimate
Estimated market value
—
$0–$0
Most likely value $0 · roughly $0 per square foot
What moved the number
Starting from the area baseline for your property type, here’s what each answer added or subtracted.
Market context
Recent local averages for comparison.
—
A range is a starting point.
A strategy is what sells.
This model doesn’t know that your neighbour’s identical semi went $80,000 over asking last month, or which two upgrades actually pay back in your area. That conversation is free and takes twenty minutes.
Questions to ask about your CMA
- Which three sales anchor this price, and why?
- What adjustments did you make, and how much for each?
- What is currently for sale that competes with mine?
- What is the sale-to-list ratio and days on market in my pocket?
- What price would you list at, and what is your reasoning?
Where I fit
I am Jatin Dua, Broker of Record at RE/MAX Quantum Realty. I send the comparables and the adjustments in writing so you can check my work, anywhere in Toronto and the GTA. See how to price your home.
The takeaway
A CMA prices your home from recent sales, live competition and rejected prices, with clear adjustments. It is not an appraisal. Ask which sales anchor the price, what each adjustment was and what you are competing against, and be sceptical of any CMA that shows only supportive numbers.
Talk it through with me
Get a real CMA in writing
Send your address. I will send the comparables, the adjustments and a recommended range.
I will come back to you personally, usually the same day. If it is urgent, call or text 833-330-1925.
Frequently asked questions
What is a comparative market analysis?
An agent’s estimate of market value based on recent comparable sales, active listings and expired listings, with adjustments for differences.
Is a CMA the same as an appraisal?
No. An appraisal is prepared by a licensed appraiser, usually for a lender; a CMA is an agent’s pricing tool.
Is a CMA free?
Most agents provide one at no cost when you are considering listing.
How accurate is a CMA?
It depends on the comparables and adjustments. In areas with few recent sales it is less precise.
How many comparables should a CMA include?
Usually three to six sold comparables, plus current competition.
Can a CMA be inflated?
Yes. Some agents present high numbers to win listings. Ask for the adjustments and the competing listings.
Sources
- TRREB Market Watch, August 2026 — district tables W06, W07 and W08 for all home types, detached and condo apartment, plus the MLS® HPI benchmark page. Accessed 16 September 2026.
- Real Estate Council of Ontario (RECO) — public register of registrants, registration categories and disciplinary decisions. Accessed 16 September 2026.
- Ontario Real Estate Association — publisher of the standard Agreement of Purchase and Sale forms used in most Ontario resale transactions. Accessed 16 September 2026.
Related reading
- AI valuation vs CMA vs appraisal
- How to price your home
- Appraisal vs inspection
- What did my neighbour sell for?
About the author — Jatin Dua, Toronto and GTA real estate broker
I am Jatin Dua, Broker of Record and co-founder of RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway, Etobicoke. I work with buyers and sellers across Toronto and the GTA, with deep local knowledge of the west end. Four-plus years of active GTA transactions and over $100 million in sales volume. Every market figure here comes from TRREB’s published tables and every rule from RECO or Ontario legislation, so you can check all of it without asking me.
Reach me at connect@jatindua.com or 833-330-1925, or book a call.