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 ag...