Thinking about selling your Spokane County home but not sure where to start with pricing? You are not alone. Setting the right list price is one of the biggest decisions you’ll make, and it can shape your timeline and bottom line. A Comparative Market Analysis (CMA) gives you a clear, local picture of value so you can move forward with confidence. In this guide, you’ll learn what a CMA is, how agents build one, how it differs from online estimates or appraisals, and when to request one in Spokane County. Let’s dive in.
CMA basics: What it is and why it matters
A Comparative Market Analysis is an agent-prepared estimate of your home’s likely market value using recent comparable sales, current listings, and local market insight. It helps you decide whether to list, how to price, and where to invest in prep work.
A CMA is not an appraisal. Appraisals are completed by licensed appraisers for lending and legal purposes and follow formal standards. A CMA is a professional opinion of probable sale price designed to guide pricing and marketing decisions.
You might also hear “Broker Price Opinion” (BPO). It is similar to a CMA but used more often by lenders and servicers, with a more formal report style.
How agents build a strong CMA
A good CMA follows a clear process and ends with a recommended list price and a probable sale range. Here is the typical workflow.
Step 1: Gather accurate property facts
Your agent will confirm basics like square footage, bedrooms and bathrooms, lot size, year built, basement finish, garage or parking, major updates, and any legal or HOA items. They will also ask about your timing, net goals, and willingness to make repairs.
Step 2: Select comparable properties
The best comps are similar in size, layout, location, and condition. In Spokane County, agents typically prioritize sales from the past 3 to 6 months when available, then include:
- Recent closed sales for the strongest evidence.
- Pending sales to show where buyers are currently agreeing on price.
- Active and recently expired listings to show your competition.
Step 3: Adjust for differences
No two homes are identical. Your agent adjusts for things like square footage, bedroom and bathroom count, condition and updates, lot size and usability, garage or parking, basement finish, and sale date. Adjustments can be dollar-based per feature or calibrated to price per square foot. The goal is to bring each comp closer to your home’s features so the comparison is fair.
Step 4: Account for market timing
If sales are older, your agent will consider local trends to adjust for appreciation or softening since the comp sold. They will review days on market, list-to-sale price ratios, and inventory levels to understand buyer behavior right now.
Step 5: Reconcile to a price range
You should expect a recommended list price and a probable sale range, along with notes on confidence level. Many agents also provide a net proceeds estimate so you can see your bottom line after typical closing costs and commissions.
Spokane County factors that shape your CMA
Spokane County is a collection of distinct submarkets, and that variety matters when picking comps and setting price.
Submarket differences
Prices and buyer expectations can vary between Spokane city neighborhoods, Spokane Valley, Liberty Lake, Airway Heights, and rural or acreage areas. Urban, close-in homes often rely on comps within a half-mile or so, while suburban or rural properties might require a wider search and different valuation logic.
Property type and features
Single-family homes, condos, townhomes, and manufactured homes follow different pricing patterns. Rural and acreage properties may hinge more on land usability, access, utilities, and outbuildings than on typical urban features.
Seasonality and demand drivers
Spring and early summer usually bring more listings and activity, while winter is quieter. Regional migration patterns, local employment shifts, and inventory levels can tilt conditions toward sellers or toward a more balanced market.
Unique or complex homes
Historic homes, custom floor plans, and manufactured homes on leased land can limit the number of true comps. In these cases, your CMA may include a broader time frame and a more detailed explanation of adjustments and confidence.
CMA vs online estimates vs appraisals
Understanding the differences helps you decide which tool you need.
- Online estimates: Fast and free, useful for a ballpark. These models can miss interior updates, condition, and local nuances, and they often present a single number instead of a well-explained range.
- Agent CMA: Combines MLS data, on-the-ground knowledge, and a walk-through of your home. You get a price range, a recommended list price, and actionable prep advice. It is ideal for pricing and marketing decisions.
- Appraisal: A formal, licensed valuation used for lending and legal purposes. It is more rigorous and comes with a cost. For a typical home sale, your pricing strategy relies on a CMA, while the buyer’s lender later orders the appraisal.
In stable markets with plenty of recent comps, a strong CMA and an appraisal often land in a similar range. In fast-changing or unique-property situations, expect larger gaps and plan accordingly.
When to request a CMA in Spokane County
Consider asking for a CMA when:
- You plan to sell within 3 to 6 months and want a pricing plan and prep checklist.
- You made updates and want to understand impact on value.
- You need guidance comparing offers or reviewing a contingency.
- You are exploring estate, divorce, or tax planning and a non-lender opinion will do.
What to ask your agent about the CMA
Get the most clarity by asking for:
- The number and type of comps used, including time frames and locations.
- How differences were adjusted, including square footage, condition, lot, and timing.
- A recommended list price and a probable sale range, plus confidence level.
- A net proceeds estimate based on the recommended list price and typical local costs.
- Whether the agent completed an on-site walk-through for accuracy.
Tips to get more value from your CMA
- Share updates and receipts. Documented improvements help refine adjustments.
- Be candid about timing and flexibility. Your goals shape pricing strategy.
- Focus on condition. Targeted tune-ups, curb appeal, and staging can improve your position against nearby comps.
- Review the competition. Active and pending listings show what today’s buyers will see and choose from.
- Plan for market shifts. If pricing trends are moving, revisit the CMA right before you list.
Ready to price your Spokane County home?
A well-prepared CMA gives you a grounded list price, a realistic range, and a clear plan to maximize your net. If you are considering a sale in Spokane County or nearby Inland Empire communities, let a local, full-service team guide you from valuation to closing. Reach out to BranDen Tipton to request your CMA and a tailored sale strategy.
FAQs
What is a CMA for a home sale?
- A Comparative Market Analysis is an agent’s estimate of your home’s likely market value based on recent comparable sales, current listings, and local knowledge.
How is a CMA different from an appraisal?
- A CMA is an agent’s opinion for pricing and marketing; an appraisal is a licensed, formal valuation used by lenders and for legal purposes.
How many comps should a CMA include?
- Most CMAs use 3 to 8 recent closed sales, plus relevant pending and active listings, with emphasis on similarity and recency.
How recent should comparable sales be in Spokane County?
- Ideally within 3 to 6 months; if sales are limited or the property is unique, agents may look back 6 to 12 months.
Why do pending and active listings matter in a CMA?
- Pending sales show where buyers are currently agreeing on price; active listings show your competition and buyer expectations.
Can a CMA predict my final sale price exactly?
- No. A CMA provides a probable sale range. Your final price depends on marketing, buyer demand, terms, and negotiation.
Will my CMA include my estimated net proceeds?
- Many agents provide a net proceeds worksheet upon request. Confirm assumptions for closing costs, commissions, and any loan payoff.
