One of the most common questions homebuyers ask is "what's this home worth?"
We believe this critical question deserves a simple, data-driven answer. Understanding a home's value means you can bid successfully without overpaying. It prevents subsequent problems like a low appraisal or a potential loss when you decide to sell.
Using comps to price a home
The best way to create a price estimate for a home is to look at recent, similar, nearby home sales. These are called comps (short for comparable sales) and they are used by appraisers and automated valuation models alike. By selecting the most similar comps and comparing their sold price per sqft, you can create a price estimate that's backed by real data.
The Open Listings comps tool makes it simple to price any listing
We set out to build the simplest price estimation tool possible. With one click, get a set of potential comps tailored to each listing. Choose the best comps and share a price estimate in seconds.
How it works
- Click the "Comps" or "View Comps" link on any listing
- Adjust the suggested search filters for distance, date sold and home size
- Select at least three of the most similar sold properties
- See a price estimate calculated from the average price per square foot of the selected comps
- Share your estimate with your co-buyer, data scientist friend or an Open Listings agent to get their take