Free Comparative Market Analysis Template (CMA, Excel)
What's in the CMA template
The template is a single CMA sheet: one row per comparable, with the comp's address, sale price, square footage, and a dollar adjustment for differences from the subject property. It's sized for 6 comps, which is the range most agents and investors actually pull for a quick comparative market analysis template.
Below the comp table, the summary shows a value range — low, median, and high — pulled from the adjusted prices, giving you a defensible range rather than a single guessed number.
What calculates automatically
Enter a sale price, square footage, and adjustment for each comp, and the adjusted price and $/sqft calculate on that row automatically. There's no separate formula step — the math updates as you type.
The value range at the bottom (low, median, high of the adjusted prices) recalculates as you add or edit comps, so as your comp set firms up, your estimated value range does too.
Why this beats a blank spreadsheet
A blank spreadsheet means building the adjustment logic and a median/low/high formula yourself, and re-checking it every time you swap in a better comp. It's easy to get the adjusted-price formula wrong and not notice until the range looks off.
This template already has that math built in. You're entering comp data, not building or debugging formulas, and you can swap comps in and out with the range updating instantly.
How to use it
- Enter up to 6 comparable sales: address, sale price, and square footage.
- Add a net adjustment for each comp to account for differences from the subject property.
- Adjusted price and $/sqft calculate automatically per comp.
- Check the value range — low, median, and high — at the bottom of the sheet.
Download the free Free Comparative Market Analysis Template (CMA, Excel)
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Real Estate Investor Pack
This CMA is one of three connected tools in the paid Real Estate Investor Pack ($39), which also includes a full Rental P&L with amortization and a Returns Dashboard (NOI, cash flow, cash-on-cash, cap rate, DSCR) and a development proforma.
See the full versionFrequently asked questions
Can I use this CMA template in Google Sheets?
Yes. Upload the downloaded file to Google Drive and open it with Sheets — File > Save as Google Sheets keeps the formulas working.
Is this template really free?
Yes. You give an email address to download it, and it's yours to reuse for every CMA you run.
How should I pick comps for the best results?
A good rule of thumb is comps sold within the last 6 months and within about a mile of the subject property, when your market has enough sales to allow it.
How many comps can this template handle?
It's built for 6 comparables, which is the typical range for a quick CMA. For more comps and more analysis, see the paid pack below.
What's the usage license?
Personal use or use within one business, including agents running CMAs for clients. It isn't meant to be resold or redistributed as a template product.
Does this replace a formal appraisal?
No. A CMA is an estimate based on comparable sales, not a licensed appraisal — use it for pricing guidance, not for lending or legal purposes.