How to Use Comparable Sales to Price Your Home

How to Use Comparable Sales to Price Your Home

Understand the Market Like a Pro Before You List

One of the most powerful tools in pricing your home accurately is the use of “comps” — comparable sales. These are recently sold homes that closely match yours in size, layout, condition, location, and features. If you're planning to sell your home in Minnesota, understanding how comps work can help you price your property to sell quickly — and for top dollar.

What Makes a Good Comp?

Not every sold home qualifies as a strong comparable. The best comps will have the following similarities:

  • Same neighborhood or school district – A home just a few blocks away might not be comparable if it’s in a different zip code or feeds into a different school.
  • Similar square footage and layout – Split-level vs. two-story, 1,800 vs. 2,800 sq ft — big layout or size differences skew pricing.
  • Sold recently – Ideally within the past 3 to 6 months. In fast-moving markets, even 90 days ago can feel dated.
  • Similar condition and updates – A fully renovated kitchen adds more value than a dated one — even if the rest of the home matches.

Why Comps Matter When Pricing

Most buyers work with agents who are also reviewing comps before writing offers. If your home is priced too far above what other similar homes have sold for, it risks sitting on the market — or worse, triggering lowball offers. If you're underpriced, you may leave money on the table. The goal is to price in that “just right” zone that creates urgency without leaving value behind.

Beyond the Numbers: What I Look At

As a local Realtor and experienced investor, I take comps a step further. In addition to reviewing recent sales, I analyze:

  • Pending sales – What’s under contract now, and what were the list prices?
  • Active competition – What else will buyers be comparing your home to?
  • Price-per-square-foot averages – But only within a tight location and similar home style
  • Buyer demand trends – Showing activity, open house turnout, and feedback from real-time agents

Real-World Example

A recent listing I handled in St. Louis Park had three comps within 0.3 miles — all similar in size, but two had new kitchens. We adjusted our pricing accordingly, staged the home professionally, and landed a full-price offer within 5 days. The seller made an extra $8K by trusting the data — and not guessing.

Want to See the Comps for Your Home?

I offer a complimentary, no-pressure home value analysis that includes recent sales, current competition, and my professional recommendation for pricing your home to sell fast — and smart.

💰 Get your personalized home value report here
✉ Or contact me directly to talk through the data

Related Resources:

Joe Houghton
Broker Associate | RE/MAX Results
Founder – Minnesota Property Group
📞 (763) 300-2702
🌐 www.mnpropertygroup.com

Location: Eden Prairie, MN, USA

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