What does a comparative market analysis (CMA) help determine?

A comparative market analysis (CMA) is a tool used primarily by real estate professionals to assess the value of a property based on the sale prices of similar properties in the area. This analysis takes into account various factors such as location, size, condition, and features of the properties that have recently sold, as well as those currently listed for sale. By comparing these data points, a CMA provides an informed estimate of the property's market value, which can be utilized for pricing, negotiation, and understanding market trends.

The other choices do not align with the primary purpose of a CMA. While repairs may influence a property’s overall appeal and possibly its value, the CMA itself does not determine repair costs. Similarly, while the tax value of a property can relate to its assessment for property taxes, a CMA is not designed to determine this value. Moreover, the CMA does not calculate loan amounts; those are determined based on the buyer's financial situation and lender criteria, not the market analysis of comparable properties.