Comparative Market Analysis Calculator
Estimate property value using comparable property sales with adjustments for features and square footage.
How it works
Adjusts comparable sale prices for differences, calculates price per square foot, and estimates subject property value based on weighted average of comparables.
Example
3 comps at $150-170/sq ft after adjustments × 2,000 sq ft subject = $320,000 estimated value.
FAQ
How many comparable properties should I use?
Use 3-6 comparable properties that sold within the last 3-6 months, are within 0.5-1 mile, and are similar in size and features.
What adjustments should I make to comparable sales?
Adjust for differences in square footage, lot size, bedrooms, bathrooms, age, condition, location, and special features like pools or garages.
How do I determine adjustment amounts?
Use local market data, recent sales showing value differences, or appraiser guidelines. Common adjustments: $10-50/sq ft, $5,000-15,000 per bathroom, $2,000-8,000 per bedroom.
How recent should comparable sales be?
Ideally within 3-6 months. In stable markets, up to 12 months may be acceptable. In rapidly changing markets, use more recent sales.
Should I include pending or active listings?
Focus on closed sales for accuracy. Pending sales can provide additional context, but active listings show asking prices, not market values.