What Are Comparable Sales?
When you’re buying or selling a home in Tampa or any of the surrounding communities, your real estate agent will look at comparable sales – but what are comparable sales, or comps, and why does your agent evaluate them?
What Are Comparable Sales?
Comparable sales are homes similar to yours that have been on the real estate market and sold within the past few months.
In order to be a “comparable” sale, the subject home must be similar to yours in:
- Size
- Location
- Amenities
Comparable sales aren’t active listings or pending sales, or homes that have been taken off the market. They’re homes that have actually sold.
Why Agents Need to Look at Comparable Sales
Agents need to look at comparable sales to see what your home is worth or to see whether a home you’re interested in buying is worth its price. Your agent will evaluate the sales price of the subject home to try to pinpoint the worth of the home you’re selling (or thinking about buying).
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