Comparable sales can help you understand what buyers have recently paid for properties similar to yours. The key is choosing the right properties to compare.
- Focus on sold prices: Asking prices show what sellers hope to achieve; sold prices show what buyers actually agreed to pay.
- Compare like with like: Look for properties with a similar location, land size, number of bedrooms and bathrooms, parking, condition and overall quality.
- Keep it recent and local: Recent sales close to your property will generally provide the most useful comparisons.
- Allow for differences: Renovations, views, larger land, better presentation, pools, sheds and other features can affect value.
- Use several sales: Don't base your price on a single property. Several comparable sales will give you a more balanced picture.
No Agent Property can provide a recent comparable sales report using CoreLogic RP Data to help you research your local market and determine an appropriate asking price.
For more information, see our How to Get an Appraisal Without an Agent and How to Set the Right Price for Your Property guides.