Knowing how much your home is worth helps you gauge how much equity you have available and price your home effectively when it comes time to sell.
One of the tools used to determine a home’s value are real estate comparables. Here’s what you need to know about comps, and how to use them to estimate what your home is worth.
What are real estate comps?
Real estate comps definition
Real estate comps are industry-speak for “comparables,” or a set of homes that meet similar criteria that make them ideal for a value comparison. Many times, comps are recent sales in a given market from a specific time period, such as the past three or six months, and homes with a similar layout, such as the same number of bathrooms.
Comps are important because they provide valuable