Thinking about selling your home in McKinney and not sure where to start on price? You are not alone. Pricing is the number one decision that shapes your timeline, offers, and net proceeds. A Comparative Market Analysis, or CMA, gives you a clear, local picture of what buyers are paying right now and how your home stacks up. In this guide, you will learn what a CMA is, how it is built for McKinney neighborhoods, how it differs from appraisals and online estimates, and what to expect when you request one. Let’s dive in.
CMA basics: what it is and why it matters
A Comparative Market Analysis is a market-based estimate of your home’s likely sale price using recent sales, current listings, and pending transactions for similar properties nearby. Agents prepare CMAs to recommend a smart list price or price range and to guide marketing and timing.
A CMA is not a formal appraisal. Only a licensed appraiser can provide an appraisal that lenders use. For background on roles and definitions, see the Texas Real Estate Commission and broad industry guidance from the National Association of Realtors. The CMA sits in the middle: more context than an online estimate, less formal than an appraisal.
- Learn more from the Texas Real Estate Commission: Texas Real Estate Commission
- Industry overview of CMA practice: National Association of Realtors
What goes into a McKinney CMA
A strong CMA uses MLS data and neighborhood knowledge focused on your exact location in McKinney and Collin County.
Key components
- Subject property profile: square footage, lot size, year built, bed/bath count, garage, upgrades, systems, HOA details, and photos.
- Market data: sold comps, pending sales, active competitors, and any expired or withdrawn listings that show price resistance.
- Adjustments: dollar or percentage tweaks for differences in size, lot, condition, age, upgrades, pool, view, garage, and floor plan.
- Pricing opinion: a recommended list price and realistic range, plus a strategy that fits your goals.
- Net proceeds estimate: what you may take home after commissions, closing costs, prorations, and mortgage payoff.
- Timeline and marketing: expected days on market and the right level of marketing intensity for current conditions.
Local data sources include the regional MLS for North Texas, maintained by NTREIS, and Collin County records for parcel details. You will also see city planning context when it affects micro-location.
- MLS market data hub: NTREIS
- Parcel and tax history: Collin County Appraisal District
- City maps and planning context: City of McKinney
How agents pick comps in McKinney
- Time frame: most recent 3 to 6 months in active markets. If sales are sparse, extend to 6 to 12 months and weigh the newest sales more.
- Location: same subdivision or the closest, most similar area first. For unique lots, expand carefully until you find true peers.
- Property type and size: match single-family to single-family, and aim for living area within 10 to 20 percent of your home.
- Lot and features: align lot size and consider premiums or discounts for views, greenbelts, busy roads, cul-de-sacs, or golf-course locations.
Adjustments and pricing strategy
Agents use price-per-square-foot as a baseline, then apply paired-sales comparisons to quantify features like a renovated kitchen, newer roof, or pool. Condition, functionality, and micro-location are weighed alongside raw numbers. The outcome is a price recommendation and a strategy: list at market to maximize proceeds, or slightly under market to spur multiple offers, depending on your timeline.
What you receive
- A comp grid with active, pending, and sold listings, plus photos
- A clear explanation of comp selection and adjustments
- A recommended list price and market range
- A seller net sheet with estimated costs and proceeds
- Suggested pre-listing repairs or staging priorities
Why local beats online estimates in McKinney
Automated Valuation Models are quick and free, but they often miss what matters most to buyers in McKinney: condition and micro-location. AVMs usually cannot see your interior, recent renovations, or block-level differences. A local CMA uses MLS-only details, on-the-ground reading of buyer demand, and pending sales that algorithms may not fully capture.
McKinney has distinct micro-markets. Historic Downtown, Craig Ranch, Stonebridge Ranch, Eldorado, and growth areas in West McKinney can trade at different price points within a short drive. Proximity to US 75, State Highway 121, and the Dallas North Tollway shapes buyer filters for commute access. New construction in Collin County also influences resale pricing, especially in entry and move-up price bands, as incentives and inventory ebb and flow.
- Local trends and reports: MetroTex Association of Realtors
Condition and micro-location: what moves price
Small cosmetic updates can improve showability and negotiation leverage. Full kitchen and bath updates, newer roofs, HVAC, windows, and flooring typically command stronger buyer response. Deferred maintenance often forces discounts or repair credits. Agents quantify these with paired sales inside your subdivision when possible.
Block-level differences matter. Homes backing to greenbelts, on cul-de-sacs, or with park views tend to attract premiums. Homes near busy roads, utility corridors, or active construction often need pricing adjustments. School attendance zones can influence demand in family-focused neighborhoods, so agents account for the assigned schools in a neutral, factual way.
Illustrative examples
- Hypothetical condition example: Two 2,400 square foot homes in the same McKinney subdivision show differently. One has an updated kitchen and a recent roof. The other has original finishes and an aging roof. Paired sales often show a premium for the updated home or a buyer asking for meaningful credits on the original. Exact numbers depend on your neighborhood and price band.
- Hypothetical micro-location example: Two similar homes are one block apart. One backs to a major thoroughfare, the other sits on an interior cul-de-sac. Even with identical interiors, time on market and final sale price can diverge. A CMA reflects those differences using nearby comps.
CMA vs appraisal: when you may need both
A CMA is built for pricing and marketing strategy. An appraisal is a formal opinion of value by a licensed appraiser, used by lenders for most financed purchases and refinances, and sometimes helpful for tax appeals, divorce, or estate matters. For unique or thinly traded properties, pairing an agent CMA with an appraisal can be useful. For rules and definitions, consult the Texas Real Estate Commission.
- Appraisal and valuation rules: Texas Real Estate Commission
How to request a CMA in McKinney
You can request a CMA at any point in your planning timeline. To get the most accurate result, share what you know about the home and your goals.
What to provide
- Property address and any parcel or legal description
- Recent upgrades, renovation dates, and permits if available
- Interior and exterior photos or a floor plan
- Recent tax bills, surveys, HOA documents, and deed info if on hand
- Any recent appraisal and mortgage payoff info if you want a net sheet
- Your ideal timing and constraints, such as a lease or relocation date
What to expect from your agent
- A comp set with actives, pendings, and solds, plus photos
- An explanation of how comps were chosen and adjusted
- A list price recommendation and a realistic market range
- An expected days on market window and marketing plan
- A net proceeds estimate based on current costs and assumptions
- Practical repair or staging suggestions, if needed
Turnaround and fees
Most agents can deliver a baseline CMA within 24 to 72 hours after receiving your details and photos. Many provide a basic CMA at no cost as part of the listing process. If you request an extensive on-site consultation or a detailed market study, confirm any fees in advance.
Timing, updates, and new construction
Markets move. In active or volatile periods, update your CMA every 2 to 4 weeks. In more stable conditions, monthly updates are usually enough. In areas with robust new construction, builder incentives can shift buyer behavior and pricing. Your CMA should account for nearby builder inventory and timing so you know how to position your home.
Next steps for McKinney sellers
If you are considering a sale in Historic Downtown, Stonebridge Ranch, Craig Ranch, Eldorado, or anywhere in West McKinney, a locally prepared CMA is your best first step. It grounds your pricing in real buyer activity and helps you plan repairs, staging, and timing with confidence.
Ready to see where your home stands? Use our instant valuation and schedule a quick consultation with the neighborhood-focused team at Cardinal Realty Group. We will review your goals, walk your home, and deliver a clear CMA and pricing plan tailored to your micro-market.
FAQs
How accurate is a CMA for a McKinney home?
- A well-prepared local CMA reflects current pending sales and your home’s condition, so it is often more accurate than an online estimate, but it is not a formal appraisal.
What is the difference between a CMA and an appraisal?
- A CMA is an agent’s market-based pricing tool. An appraisal is a licensed appraiser’s formal opinion of value typically required by lenders.
How do online estimates compare to a local CMA?
- Online estimates use algorithms and public records and often miss condition and micro-location factors. A local CMA uses MLS data and on-site insight.
How are comps selected in McKinney neighborhoods?
- Agents start with your subdivision and the last 3 to 6 months of sales, then adjust for size, lot, features, and nearby competition to reflect true peers.
Should I repair before listing or price as-is?
- It depends on cost versus expected impact on price and demand. Your CMA and paired sales can reveal whether updates yield a positive net return.
How long does a CMA take and what does it cost?
- A baseline CMA typically takes 24 to 72 hours once your info is complete. Most agents provide a basic CMA at no cost. Confirm any consulting fees upfront.
How often should I update my CMA if I am not listing yet?
- In fast-moving markets, every 2 to 4 weeks is smart. In stable periods, plan on monthly updates so your pricing stays aligned with new comps.
