When you put your home up for sale, one of the best
ways to determine the asking price is to look at
comparable sales. There’s rarely a perfect apples-to-
apples comparison, so a pricing decision often relies
on comparisons to several recent sales in the area.
Here are five criteria to look for in a sales comparison.

  1. Location: Homes in the same neighborhood
    typically follow the same market trends.
    Comparing your home to another in the same
    neighborhood is a good start, but comparing it to
    homes on the same street or block is even better.

  2. Date of sale: It varies by location, but housing
    markets can see a ton of fluctuation in a short
    time period. It‘s best to use the most recent sales
    data available.

  3. Home build: Look for homes with similar
    architectural styles, numbers of bathrooms and
    bedrooms, square footage, and other basics.

  4. Features and upgrades: Remodeled bathrooms
    and kitchens can raise a home’s price, and so can
    less flashy upgrades like a new roof or HVAC
    system. Be sure to look for similar bells and
    whistles.

  5. Sale types: Homes that are sold as short sales or
    foreclosures are often in distress or sold at a
    lower price than they’d receive from a more
    typical sale. These homes are not as useful for
    comparisons.