What are Comparable Sales 🤔❓

By
Real Estate Agent with JP and Associates 486174
Known in real estate as ""comps,"" comparable sales 📊 are the sales prices of similar homes 💵 🏡 and are based on:
💥 Lot size
💥 Condition
💥 Age & construction
💥 Square footage
💥 Close proximity
💥 Time frame of sale
💡 TIP: Appraisers use comps in their evaluation of your home, but you can submit different comps if you feel that the ones chosen are outdated.
When it comes to buying 🔑 or selling 🎉, both place a high level of importance on comps to determine a home’s value 💰
Contact our team for a ✨ free consultation ✨ to learn more about what homes are selling for in your area.
 

Comments (3)

Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Great job explaining what comps are in real estate. They are often used when both buying and selling homes.

May 27, 2021 12:49 PM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Hey there Anne Edwards Johnson great post and very helpful for the consumer to understand the process

May 28, 2021 10:12 AM
Anne Edwards Johnson
JP and Associates - Austin, TX
Austin Realtor | HookemhomesATX (512)917-5260

Troy Erickson AZ Realtor (602) 295-6807 Rocky Dickerson Thank you for stopping by and commenting.  While comps have less bearing here in Austin right now, the day will come (again), when comps matter.

May 28, 2021 10:56 AM