A CMA is a report your agent prepares that establishes market value by comparing a property to similar homes that recently sold nearby. It’s the primary tool for evaluating whether an asking price is fair before you make an offer.
A good CMA uses 6-8 comparable sales from the past 60-90 days, within a half-mile radius, with similar square footage, bedroom count, lot size, age, and condition — then adjusts for differences. Zillow’s Zestimate is not a CMA; in specific Denver neighborhoods it can be 8-15% off actual market value. Ask your agent to run comps before you submit any offer above $500,000.