What Is Comparable Sales (Comps)?

Comps are the foundation of any honest property valuation. To estimate what your home is worth, a buyer looks at homes nearby that recently sold and shared key characteristics — square footage, bedroom and bathroom count, lot size, age, and condition.

The best comps are recent (ideally within the last 3-6 months), close by (same neighborhood when possible), and genuinely similar. A renovated comp tells the buyer your ARV; an as-is comp in poor condition tells them your current value.

When a cash buyer shows you their offer, ask which comps they used. A transparent buyer will walk you through the specific addresses and sale prices behind their number.