Real estate agents can perform a sophisticated comparative market analysis to identify comps very precisely. But you can also find general comps yourself by looking online for recent sales in your neighborhood, finding the homes most similar to yours, and checking prices to see how much they sold for.
How do I find comps in my area for free?
There are several additional resources for finding comps:
- Public property records: If you want to find the sale price of a specific comparable, the county usually keeps those records.
- Zillow: Search on Zillow using the Recently Sold filter.
- Zillow pricing tool: Try this pricing tool to find comps in your area.
How do you run comparables in real estate?
When pulling MLS comps, agents typically search for listings that are similar in size, condition, features, and age. Ideally, these listings are sold within the past six months and within a one-mile radius. In rural areas where distances from property to property tend to increase, a five-mile radius is acceptable.
Do appraisers look at comparables?
During a home appraisal, an appraiser relies on comps, as well as a number of other factors, to determine an accurate value of a property. This can make or break a transaction, making it one of the most important processes real estate comps are used for.
How many comparables should be used for a CMA?
That said, a CMA typically includes: The address of the property and three to five comparables. A description of each property, including elevation, floor plan, and the number of bedrooms and bathrooms.
How are property comps calculated?
Simply put, real estate comparables – or “comps” – are comparable properties in a specific area that you're looking to buy or sell in. Comps are used to determine the value of a home by comparing it to similar properties sold in the same neighborhood or in an area as close as possible to the house being valued.
During healthy market conditions in a tier 1 city you should be able to find near instant liquidity for your home if you list at ~5% below the last comparable sale.
— Jesse @ Kleine Real Estate (@jesse_kleine) July 17, 2023
Vancouver & surrounding areas still have ample liquidity.
What is the best site for comparables?
The local MLS is usually the best source of comparable home sales, because the information tends to be the most accurate. Zillow's agent directory can help you find an experienced real estate agent who is well-versed in navigating the MLS and finding appropriate comps for your property.
Frequently Asked Questions
How do I find good comparables?
To find comparable properties, also known as "comps", you can start by looking at properties in the same area that are similar in size, age, and features. You can look particularly for homes that meet these criteria that have recently sold or which are listed for sale.
How do I get a list of comps?
Real estate agents can perform a sophisticated comparative market analysis to identify comps very precisely. But you can also find general comps yourself by looking online for recent sales in your neighborhood, finding the homes most similar to yours, and checking prices to see how much they sold for.
FAQ
- How do I pull my own comps?
- Read on to learn about each step.
- Conduct market research.
- Write your business plan.
- Fund your business.
- Pick your business location.
- Choose a business structure.
- Choose your business name.
- Register your business.
- Get federal and state tax IDs.
- What is the best website to check comps?
- The local MLS is usually the best source of comparable home sales, because the information tends to be the most accurate. Zillow's agent directory can help you find an experienced real estate agent who is well-versed in navigating the MLS and finding appropriate comps for your property.
How to find comparable real estate sales
| Are Zillow comps accurate? | How Accurate Is a Zestimate? If you ask Zillow, it's very accurate. In fact, Zillow boasts a “nationwide median error rate” for on-market homes of 2.4%. However, for off-market homes, the error rate is more than three times that rate, coming in at 7.49%. |
| How do I find comparable home sales in my area? | Real estate agents can perform a sophisticated comparative market analysis to identify comps very precisely. But you can also find general comps yourself by looking online for recent sales in your neighborhood, finding the homes most similar to yours, and checking prices to see how much they sold for. |
- How do I find the original sale price of my house?
- You can look up the sale history of a house by checking the public records available at the county recorder of deeds or the tax assessor's office.
- How do I search for comps on Bright MLS?
- And then in most neighborhoods. You can just click and you will see a neighborhood outline. So with that now what we can do is we can see all the comps in the neighborhood.
