What Is A Good Comp

What Is A Good Comp

Most agents agree that setting your listing price is part art, part science. Sure, you need to consider the sale prices of comparable homes in your neighborhood, subdivision or rural area. 

But numbers alone don't tell the whole story. This means comps need to meet specific criteria to be valid. 

By working with a real estate professional, your comps will be confined to actual sales only, not listing prices. Also, these will be limited to recent sales, typically no more than three month old. 

Finally, make sure the home are similar in these four specific areas. 


  • Age and construction 

  • Condition

  • Lot size

  • Square footage


TIP: Comps can also come in handy when a buyer contests a low appraisal. 



Karin Waterschoot-Perez Headshot
Author:
Phone: 614-774-1741
Dated: June 25th 2022
Views: 82
About Karin: Executive Vice President of Sales Experienced Realtor, Karin Waterschoot-Perez, currently serves ...

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