What are comparables? – David Reecher

Comparables are homes of similar size, condition, age, and style that recently sold in a certain neighborhood. Evaluating comparable homes and their prices can help determine a fair market value for a home.

Comparables are examined by buyers, sellers, and real estate agents in a comparative market analysis (CMA) to establish a price range for a home based on current market activity. Comparables are also used by appraisers to determine the fair market value of a home during an appraisal.

A quality comparable is most similar to the home in question in terms of:

  • Last sale price
  • Number of bedrooms and baths
  • Age and style of home
  • Condition of home
  • Lot size and condition
  • Views and waterfront access

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