Comparable Homes
“Comparable Homes: Recently Sold Properties with Similar Features”
đź“ś Long Description (English):
When determining a property’s market value or evaluating its investment potential, it’s essential to examine comparable homes, also known as “comps.” These are recently sold properties that share key characteristics with the home in question—such as the number of bedrooms and bathrooms, total square footage, lot size, architectural style, age, and location.
These comparables help buyers, sellers, and appraisers better understand what similar homes have sold for in the same market, providing a realistic benchmark for pricing. They are especially important in rapidly changing markets, where recent sales offer the most up-to-date reflection of buyer demand and neighborhood trends.
A comparable home is typically chosen within a specific radius—often within a mile or two—and sold within the last 3 to 6 months to ensure relevance. The more closely the homes match in size, condition, features, and location, the more accurate the pricing guidance.
In this case, the comparable homes presented reflect properties that have recently sold and share similar attributes with the subject home. They offer valuable insights into current market trends, pricing expectations, and buyer preferences in the area.
Whether you’re preparing to list your home, make an offer, or assess value, reviewing comparable sales is a crucial step in the real estate process.
From Zillow
