![]() Use a reputable real estate website to find local compsĬomps are an essential part of listing your home and the home appraisal process. Here are five easy ways to get those real estate comps. ![]() Having at least three property comparables should give you an average price point to start with. For example, one home comp in your area may be lower than what you should list your home for sale because it was in poor condition and needed work, or another property may have a high comp because it was the best house on the block. When searching for local comps, the first rule of thumb is to find three or more similar properties to ensure that any comparable property isn’t an outlier in price. Although they are the same house, just listed for sale in different geographical areas, the value of each home is largely influenced by individual housing market conditions.Ĭontact a Redfin agent 5 Ways to Find Real Estate Comps in Your Area However, you should be aware that a home in Vancouver, BC will list for a different price than an exact replica of the same home listed in Birmingham, AL. Real estate comps, also referred to as “closed comparable sales,” are completed home sale transactions that have taken place within a specific area and where the homes share similar characteristics with the home you’re selling or considering for purchase. When you start researching for real estate comps in your area, it helps to understand what comps are and what information they can tell you. Let’s explore how to find real estate comps for your area. Today there’s much more information available to the public, and you can now access comps with an online search. Back then, it wasn’t easy to find publicly available data online – you needed the help of an inside connection like a real estate agent or home appraiser to pull comparable sales off of the MLS (multiple listing service). ![]() Whether you’re selling your first home or you’re a first-time homebuyer, finding comparable sales of homes in your area is much easier than it was even ten years ago. ![]()
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