A Comparative Market Analysis (CMA) is a tool used in real estate to determine the value of a property. It involves comparing similar properties, known as "comps," that have recently sold in the same area. Factors such as size, location, condition, and features are considered to provide an accurate estimate of a property's market value. Real estate agents often conduct a CMA to help sellers set a competitive listing price or assist buyers in making informed offers. By analyzing current market trends and property sales, a CMA helps ensure that transactions are fair and reflective of the local market conditions.