If you’re considering putting your home on the market in 2022 – or even if you are just a bit curious about its value, given the intense seller’s market of the past 18 months or so – then you may have visited various websites like Zillow and/or Realtor.com to do a bit of research.
But, while these sites can certainly provide you with a “ballpark” figure on what your property may be worth, the reality is that because every home can be different – and there could be renovations or other features that are unknown to these online platforms – the true figure could be differ substantially.
So, how can you get a more accurate figure on the value of your home or condo?
One of the best strategies for doing so involves obtaining a comparative market analysis – which is oftentimes referred to simply as getting a “comp.” Comps will compare your home with other similar ones in the same (or surrounding) neighborhood(s) that have recently sold.
This method takes into consideration a number of key factors, such as:
- The number of bedrooms and bathrooms
- Square footage
- Amenities (such as having or not having an in-ground pool, a garage, and/or a screened-in porch)
If you are planning to sell your home, having a comparative market analysis run can give you some critical insights in terms of how to price it. In addition, another factor that comps may be used for is providing you with clues on which selling points to highlight that could attract potential purchasers.
To set up a no-cost, no-obligation time to chat and run a comp on your home, feel free to give us a call or send us an email using our online contact form. We look forward to helping you determine the value of your property – and possibly finding you your next dream home.