How a Comparative Market Analysis (CMA) Works in Spokane

If you’re thinking about selling your home in Spokane, one of the first questions on your mind is likely: “What is my home really worth?” That’s where a Comparative Market Analysis, or CMA, becomes invaluable. A CMA helps you understand how your home stacks up to similar properties in your area, so you can price it competitively — and confidently. As a Spokane real estate agent, I’ve written this blog to explain exactly how a Comparative Market Analysis works in our local market.

What is a Comparative Market Analysis (CMA)?

A Comparative Market Analysis Spokane home sellers can trust is a detailed report that evaluates your home’s current market value based on the sale prices of similar homes in your area.

It’s not a formal appraisal — and it’s not legal, tax, or financial advice. Instead, it’s a strategic pricing tool used by real estate professionals like myself to help sellers make informed decisions. Think of it as a pricing blueprint for your Spokane property.

Why is a CMA So Important for Spokane Home Sellers?

Spokane’s housing market varies dramatically between neighborhoods, property types, and even individual streets. A well-executed CMA:

• Helps you avoid pricing too high (which can lead to your listing going stale)

• Ensures you don’t underprice and leave money on the table

• Positions your home to attract serious buyers quickly

Whether you're selling a craftsman home on the South Hill or a newer build in Liberty Lake, the right price can mean the difference between multiple offers and months of waiting.

Step-by-Step Breakdown of a CMA in Spokane

Step 1: Gather Property Information

We start by collecting details about your home:

• Square footage

• Number of bedrooms and bathrooms

• Lot size

• Year built and any recent updates

• Unique features (e.g., detached garage, backyard deck, ADU)

In Spokane, even things like basement finish quality or river views can make a noticeable difference.

Step 2: Analyze Recently Sold Homes (Comparables)

Next, we look at homes sold in Spokane within the last 3–6 months that closely resemble your home in size, style, and location. We pull data from the Spokane MLS and focus on:

• Neighborhood or subdivision

• Proximity (usually within 0.5 to 1 mile)

• Similar square footage and lot size

• Comparable features and condition

Step 3: Evaluate Active and Pending Listings

Current listings show your active competition — what buyers are seeing right now. Pending sales give us clues about market movement and buyer behavior. This helps us answer questions like:

• Is it a seller’s or buyer’s market in your area?

• Are buyers favoring updated homes?

• What price points are seeing the most activity?

Step 4: Adjust for Key Differences

No two homes are exactly alike, so we make value adjustments for features like:

• Extra square footage or finished basements

• New roofs, HVAC systems, or kitchen upgrades

• Corner lots, cul-de-sac locations, or Spokane River views

Step 5: Calculate a Suggested Listing Price Range

After reviewing all the data, I’ll present a suggested price range tailored to your goals — whether that’s a quick sale or maximizing your return. We’ll also factor in the seasonal trends in Spokane, as they can impact buyer activity.

📌 Top Factors Influencing Home Value in Spokane

Common Questions Spokane Sellers Ask About CMAs

• How accurate is a comparative market analysis in Spokane?

  Very accurate — when done by an experienced local agent with access to real MLS data. Automated tools like Zillow often miss Spokane-specific nuances.

• Is a CMA free when I work with a Spokane real estate agent?

  Yes. I provide complimentary CMAs as part of my full-service listing support for Spokane homeowners.

• Can I do my own CMA in Spokane using Zillow or Redfin?

  You can try, but online estimates often lack the context needed to make informed pricing decisions. For example, those platforms might not know about a recent remodel or an unfinished basement — both of which affect value.

• What happens after the CMA is complete?

  Once we finalize the price range, we’ll craft a custom marketing strategy to sell your Spokane home with confidence. I’ll guide you from prep to closing.

Why Work With a Spokane Real Estate Agent for Your CMA?

Here’s what I offer that online calculators and out-of-area agents can’t:

• Local expertise on Spokane neighborhoods, buyer demand, and pricing trends

• Access to real-time MLS data and off-market insights

• Customized strategy based on your goals

• One-on-one support from start to finish

If you're wondering what your Spokane home is really worth, I’d be honored to provide you with a comprehensive comparative market analysis Spokane homeowners can rely on.

FAQs

• How is a comparative market analysis in Spokane different from an appraisal? An appraisal is a licensed evaluation typically ordered by lenders. A CMA is a pricing strategy tool created by a real estate agent to help guide your list price.

• What tools do Spokane agents use to run a CMA? We use Spokane MLS data, neighborhood pricing tools, and historical market trends — not just online estimators.

• Can a comparative market analysis in Spokane be updated if my home improvements change? Absolutely. If you make upgrades before listing, we’ll update your CMA to reflect those changes in market value.

• How long is a CMA valid in Spokane’s market? Since the market shifts, your CMA is generally valid for about 30–60 days. We’ll always reassess if needed.

Conclusion

A comparative market analysis in Spokane is one of the most important tools in your home-selling journey. It ensures your pricing is data-driven, market-smart, and aligned with your goals. If you're ready to take the next step, let’s talk — I’ll run a custom CMA for your Spokane home and guide you every step of the way.

📌 Related Blog: What's My House Worth in Spokane?

About Me

My name is Nick Briggs

Being born and raised in Spokane I grew up knowing what a special place this city is, and it was my dream to help others create a life in this wonderful community by guiding them in real estate. I spent many years in the customer service industry, the experience of listening and communication showed me how much I truly loved helping people. I attended Gonzaga University and earned a Bachelor’s Degree in Business Administration to add to my knowledge of guiding, managing, negotiating, and listening to individuals, helping them achieve their real estate goals.

Contact Me