Idaho local data guide

Information Required for a Comparative Market Analysis (CMA) in Idaho

A Comparative Market Analysis (CMA) in Idaho is an informal estimate of a property's market value, prepared by a licensed real estate agent to guide pricing decisions. It relies on data from the Multiple Listing Service (MLS) to compare subject properties against recent local sales, though it is legally distinct from a formal appraisal.

Updated with grounded research as of 2026-09-25.

The short answer

To perform an accurate Comparative Market Analysis (CMA) in Idaho, a licensed real estate agent must gather specific data from the local Multiple Listing Service (MLS). This process involves selecting 3–6 closed sales from the past 90 days (or up to 6 months in slower markets) that are located within approximately a 0.5-mile radius of the subject property. The agent then analyzes and adjusts for differences in physical attributes—such as square footage, bedroom and bathroom counts, property age, and neighborhood amenities—to provide a reliable price opinion for a prospective listing or sale.

Key facts

Primary Data Sources: Licensed real estate agents access data through the local Multiple Listing Service (MLS), which provides verified information on sold, active, and pending listings, including financing details and actual sale prices.
Key Selection Criteria for 'Comps': Accurate CMAs typically utilize 3–6 closed sales from the past 90 days (or up to 6 months in slower markets) located within approximately a 0.5-mile radius, adjusted for differences in square footage (ideally within 10–15%), bedroom/bathroom count, age, construction type, and neighborhood amenities.
Legal Distinction: In Idaho, a CMA is a price opinion for a prospective listing or sale. Licensees must not represent themselves as state-licensed or certified real estate appraisers, and the CMA must not be presented as a formal appraisal, which is a lender-required valuation performed under USPAP standards.

The Role of the Multiple Listing Service (MLS)

The accuracy of a CMA in Idaho hinges on the quality of data available. Licensed real estate professionals utilize the MLS, a private database, to retrieve verified transaction history. This includes not just listing prices, but actual sold prices, days on market, and specific financing concessions. Because the public does not have full access to these private databases, professional agents are better equipped to provide comprehensive market insights.

Selecting Comparable Properties ('Comps')

Not every nearby home is a true 'comp.' For an analysis to be considered reliable, agents look for homes that share similar characteristics with the subject property. The following variables are essential considerations for a precise evaluation:

Proximity: Generally looking for properties within a 0.5-mile radius.
Recency: Closed sales within the last 90 days are preferred; up to 6 months may be used in slower markets.
Size and Layout: Comparing properties with similar square footage (ideally within a 10–15% variance) and matching bedroom/bathroom counts.
Property Condition: Adjusting for significant differences in age, construction type, and recent renovations.

Legal Boundaries and Limitations

It is critical for buyers and sellers to understand that a CMA is not a substitute for a formal appraisal. While an agent can provide an expert opinion of value for listing or negotiation purposes, they are not licensed or certified appraisers. A formal appraisal, which is usually required by a lender during a mortgage transaction, must adhere to the Uniform Standards of Professional Appraisal Practice (USPAP).

Common questions

What is the difference between a CMA and a formal appraisal?

A CMA is an informal estimate provided by a real estate agent to guide pricing strategy. A formal appraisal is a comprehensive, legal, and objective valuation performed by a licensed appraiser that adheres to strict industry standards (USPAP) and is typically required by mortgage lenders.

Can a homeowner perform their own CMA in Idaho?

While homeowners can research public records and active online listings to get a rough idea of the market, they lack access to the private MLS data that agents use to see actual closed prices and transaction terms. Therefore, a homeowner's estimate may be significantly less accurate than one performed by a licensed professional.

Sources and verification

Idaho Division of Occupational and Professional Licenses (DOPL) (dopl.idaho.gov)
Learn more about Information Required for a Comparative Market Analysis (CMA) in Idaho from pearlrealty.com (pearlrealty.com)