Six basics for choosing useful comps
1. Start with the same competitive area
We begin with your neighborhood and nearby areas that offer a similar setting. A road, community boundary, waterfront location or different property type can make the closest sale a weaker comparison. When we look farther away, the property should still compete with yours.
2. Prefer recent closed sales
Closed sales show what buyers actually paid. We start with recent transactions and consider whether the market has changed since those homes went under contract. If similar sales are scarce, an older but well-matched property may provide useful context; its age still matters.
3. Match the home’s type, size and layout
We look for a similar property type, living area, bedroom and bathroom arrangement, and overall functionality. A detached home, townhome and condo can serve different needs. Similar square footage alone does not make two homes interchangeable.
4. Look beyond the bedroom count
Condition, construction quality, renovation level, garage space, pools and outdoor living can change the comparison. We review available photos and property details, and ask about updates that a public record or online estimate may miss.
5. Compare the lot and setting
Usable acreage, privacy, road exposure and water access deserve a closer look. A water view is different from waterfront, and equal lot sizes may offer very different practical use. We look for similarities that matter to the property itself.
6. Verify the story behind the sale
We review available transaction details and look for unusual circumstances, incomplete information or seller concessions that need context. We use several relevant sales rather than choosing a single high sale because it supports a preferred price.
Sold, pending and active homes answer different questions.
- Sold homes: evidence of completed transactions.
- Pending homes: a signal of what is attracting interest, although the final sale price may not yet be available.
- Active homes: the alternatives buyers can choose today. An asking price is not proof that a buyer will pay it.
We consider these together when discussing your home’s position in the market. Read more about the different roles of sold, pending and active listings.
What if there are no close matches?
Unique homes, acreage and limited neighborhood sales require a broader search and more context. We explain why a sale belongs in the comparison and where the evidence is less certain. Differences between homes are part of an agent’s analysis; you do not need to calculate them yourself.