One of the most common questions homebuyers ask is "what's this home worth?"
We believe this critical question deserves a simple, data-driven answer. Understanding a home's value means you can bid successfully without overpaying. It prevents subsequent problems like a low appraisal or a potential loss when you decide to sell.
Using comps to price a home
The best way to create a price estimate for a home is to look at recent, similar, nearby home sales. These are called comps (short for comparable sales) and they are used by appraisers and automated valuation models alike. By selecting the most similar comps and comparing their sold price per sqft, you can create a price estimate that's backed by real data.