Finding comparable sales is easily done online.
Pricing a home is an inexact science. No two homes are alike, and conditions like school districts, zoning laws, and new housing developments all influence the price. The most reliable way to price a home is to find comparable sales of properties that sold in your area. When searching for comparable sales, try to find homes that have a similar amount of square footage and the same number of bedrooms and baths. Finding comparable sales for a home is effectively done online and in person.
Instructions
1. Go to the website of your county auditor or tax assessor. They should keep track of recent local sales.
2. Obtain a market report from the National Association of Realtors (NAR), the governing body for professional real estate agents in America. Every quarter they release housing market reports for major metropolitan areas. These reports provide home price analyses for neighborhoods based on economic trends and housing inventories in that neighborhood.
3. Contact a local Realtor. They use comparable sales to set the market price for a home. Realtors also have knowledge of local market conditions and property listings in the area that can be used in case comparable sales are hard to find.
4. Use a property value estimating website. Sites like Zillow and Real Estate ABC analyze similar sales of homes to estimate home values. Many banks, such as Chase, have their own property value estimators, which use comparable sales. All of these sites list the properties they use to determine home values, so you can use them as comparable sales for your own research.
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