comparable sales analysis

Comparable sales analysis, often called "comps," is a method used to determine a property's market value by examining recent sales of similar properties in the same area. It involves comparing key features such as size, condition, location, and sale price to assess what buyers are willing to pay. This helps sellers set realistic asking prices and buyers make informed offers. The closer the similarities, the more accurate the comparison. Overall, comps provide a current, market-based reference point for valuing real estate accurately.