Comparables

In real estate appraisal and valuation, comparables, often called comparable sales, are properties with similar characteristics that have recently sold and are used to help determine the market value of a specific property. Comparables are selected based on factors such as location, size, age, condition, design, and amenities, and adjustments may be made to account for differences between the properties. By analyzing the prices at which comparable properties have sold, appraisers, brokers, and buyers can estimate what a typical buyer might be willing to pay for the subject property. The use of accurate and recent comparables is a fundamental component of the sales comparison approach to valuation.