What are comps in real estate?
Comps (comparables) are similar nearby homes that sold recently. Comparing their prices, especially price per square foot, tells you what a home is likely worth. ListingCraft for Buyers pulls nearby sold comps for any home and gives a plain verdict: Priced high, On target or Priced low.
The best comps are close by, sold recently, and similar in size, age, beds, baths and condition. Appraisers use the same approach.