It is a historic number based on local listings sold! It may also include active listings to show you what the competition will be in price. It will also include current and recent sales data, expired listings that did not sell, and withdrawn listings. Analyzing all the data, agent, owner or buyer should be able to see where a similar home, plus or minus improvements should be priced. It is a snapshot of pricing, but it is not an appraisal. It is a market analysis to determine the probable sale price of a similar or comparable property in the current market. Sellers can use a CMA to help determine a list price or a price range in which the home will sell. A CMA can also be used by buyers to assist them decide what to offer on a listing they want to purchase.