Are you staring at a CMA and wondering what it really says about your home’s value in Amherst? You are not alone. Whether you are pricing a listing or planning an offer, a Comparative Market Analysis can feel dense until you know how to read it. This guide walks you line by line through a CMA, highlights Amherst-specific factors, and gives you simple checklists and questions to use with confidence. Let’s dive in.
What a CMA is and why it matters
A CMA is a market-informed estimate of value that compares your home to similar recent sales, plus pending and active listings. It is prepared by an agent and used to guide pricing and offer strategy. It is not a licensed appraisal, which lenders use for underwriting.
In Amherst and greater Hillsborough County, a CMA helps you balance local demand, lot and home differences, and timing. AVMs like Zillow or Redfin can serve as quick checks, but they cannot see interior condition or local nuances. A locally built CMA is the better guide for real decisions.
How to read a CMA: section by section
Subject property summary
This is the foundation of your CMA. Review the address, lot size, living area, beds and baths, year built, condition and updates, garage and basement details, and unique features.
- Verify facts against public records and what you know. Small errors in square footage or baths can swing value.
- In Amherst, condition and recent renovations carry real weight because many homes sit on larger lots and vary by age and style.
- Note any unique features like a barn, views, or a cul-de-sac location. These often drive adjustments later.
Comparable selection
Your CMA should include sold, pending, and active listings that are truly similar.
- Look for proximity within about 0 to 3 miles, matching property type, similar lot size and use, comparable age and condition, and similar beds, baths, and living area.
- Recent sales matter most. In faster markets, focus on the last 3 to 6 months. In slower or more rural segments, it may stretch to 9 to 12 months.
- Strong CMAs explain why each comp was chosen. If a comp needs lots of big adjustments to “fit,” it is likely not a strong match.
Adjustments that make comps comparable
Adjustments convert each comp into an apples-to-apples comparison with your home.
- Common categories include square footage, bedroom and bath count, lot size, finished basement area, garage spaces, condition and quality, location premiums, and time or market conditions.
- Ask how your agent quantified adjustments. Good CMAs lean on recent Amherst-area sales and paired sales logic. If the CMA uses large or unexplained adjustments, reliability drops.
- Time adjustments should reflect local market movement based on recent Amherst data, not national averages.
Price metrics and summaries
Most CMAs include a few quick metrics and a final reconciliation.
- Price per square foot is helpful within the same style and neighborhood, but it breaks down across very different lots, ages, and layouts.
- Sale-to-list ratio and days on market show market heat. Higher ratios and low days on market suggest stronger seller leverage.
- Expect a value range, not a single number. The reconciliation should explain how the agent weighed the comps to recommend a list or offer strategy.
Market context and timing
Your CMA should include inventory levels, months of supply, and recent listing versus sold trends. Seasonality is real in New England. Spring typically brings more inventory and activity. Winter can mean fewer comps and slower turnover, which may widen the price range.
Amherst-specific insights that shape value
Local market dynamics
Amherst is part of the broader Manchester and Nashua marketplace, so commuting patterns and regional job centers affect demand. Lot size and architectural style vary widely, which is why matching comps closely matters. School reputation can shape buyer interest, so your CMA should document location premiums if they are consistently supported by local sales.
Use local data sources
Ask your agent to note the sources behind the CMA. Reliable sources include the local MLS for active, pending, and sold data, the Town of Amherst Assessor’s Office for parcel and tax records, the Hillsborough County Registry of Deeds for recorded sales, and market snapshots from the New Hampshire Association of REALTORS. AVMs are fine for a quick check but should not drive final pricing.
Seasonality and school-year timing
New listings often cluster before and during spring. If you are pricing in late winter or listing near the school year, your CMA should consider likely near-term inventory and buyer demand. In winter, your agent may extend the sales window to find enough solid comps.
Quick reading checklist
Use this simple checklist to review any CMA before you decide on price.
- Verify basics: beds, baths, square footage, lot size, age, condition.
- Confirm the time window for comps and whether time adjustments were used.
- Check comp proximity and similarity in type, lot, layout, and condition.
- Look for clear, documented adjustments with Amherst-based rationale.
- See how solds, pendings, and actives are weighted. Sold comps anchor value.
- Ask for a written reconciliation that explains the suggested price range.
- Request copies or summaries of the comps from the MLS or public records.
Red flags to watch
Not all CMAs are equal. If you see these signs, ask follow-up questions.
- Distant or dissimilar comps chosen over closer, better matches.
- Large or percentage-based adjustments with no local justification.
- Too much weight on active listings. Asking prices are not proven value.
- Ignoring pending sales, which often signal the current demand level.
- Missing details on lot size, easements, or zoning that affect value.
- Blind use of price per square foot across different ages and floor plans.
When to consider an appraisal
A CMA is usually enough for pricing and offers. You might seek a licensed appraisal when a lender requires it, or when your property is highly unique, historic, or difficult to compare. For complex homes, a pre-listing appraisal can add clarity and reduce pricing disputes.
Smart questions to ask your agent
Bring these to your CMA review meeting.
- Which comps did you select and why, and can I see the MLS sheets?
- What market rate did you use for time adjustments, and how was it calculated?
- How did you value my improvements and any deferred maintenance?
- What price range do you recommend, and what strategy matches each point in the range?
- How do pending sales and days on market influence your recommendation today?
Putting it all together
Reading a CMA well is about pattern recognition. Confirm the facts, make sure the comps are truly comparable, understand how adjustments were made, and focus on a supported price range with a clear strategy. When your CMA is grounded in Amherst data and explained in writing, you can move forward with confidence.
If you want a clear, data-backed CMA that reflects Amherst’s current market and your home’s story, reach out to the award-backed team at Christensen Group, Inc.. Get a Home Valuation and a strategy that fits your goals.
FAQs
Why do different Amherst CMAs show different values?
- Agents choose and weight comps differently, apply different adjustments, and may read market momentum in unique ways, which can shift the final range.
Should I trust an AVM for my Amherst home value?
- AVMs are fine for a quick check, but they miss interior condition and local premiums, so rely on a locally informed CMA for pricing and offers.
How many comparables should a solid Amherst CMA include?
- Aim for 3 to 6 well-matched sold comps plus a few active and pending listings for context, with solds carrying the most weight.
How important are pending sales in Amherst right now?
- Pending sales help reveal current demand and likely sale prices, so they should inform your pricing strategy alongside closed sales.
When should I get an appraisal instead of a CMA?
- You will need an appraisal for lender underwriting, and it can help with unique or complex properties where comps are limited or highly variable.
Is price per square foot a reliable way to price in Amherst?
- It can help within the same style and neighborhood, but it breaks down across different lot sizes, ages, and layouts, so use it as a cross-check only.
