If you or someone you know may be selling a house in Ohio soon, knowing its true value is important. One of the most reliable ways to get in the ballpark is by looking up “comps”, or comparable properties. Comps show a realistic idea of what homes with similar attributes are actually selling for. This can give you a much clearer picture of where your property stands, relative to others in the local housing market.
That’s why we created this guide to understanding what comps are and how to find accurate comps. We’ll cover why they matter, and even go over how you can use them in your pricing strategy to attract buyers.
You’ve probably heard of “comps” when it comes to real estate. Comps are “comparable properties”. They give you a rough snapshot of your property’s value in the context of your current market trends and the local real estate market.
They are homes with similar square footage, bedrooms & bathrooms, and attributes. For instance, if your neighbor’s house has the same square footage, bedrooms, and bathrooms as yours and sold last month for $370,000, that’s likely close to what buyers will pay for yours.
A real estate agent will typically use comps to create a comprehensive comparative market analysis (CMA). A CMA looks at several recently sold homes in the same neighborhood, with similar attributes, to better estimate fair market value.
A full CMA by a real estate professional is one of the most accurate ways to understand where your property’s value stands in a changing market. Getting a professional appraisal is another great way. Before you schedule an appraisal, however, get a quick refresher on what the appraiser’s going to look at, so you can answer the door prepared.
For anyone looking to sell a house in Ohio, accurate comps are the absolute foundation of successful real estate transactions. They are one of the best tools to help form your pricing strategies.
Pricing your home too high can scare off qualified buyers. Pricing it too low can leave thousands, even tens of thousands of dollars on the table. By finding comparable sales data, you’ll be better able to choose a listing price that more accurately reflects your home’s fair market value, while simultaneously appealing to buyers.
While comps mean comparable, that doesn’t necessarily mean equal. To make sure you’re getting accurate real estate comps, focus narrowly on homes that match your own as closely as possible.
Don’t worry, you won’t have to try to figure out everything manually. Many popular real estate websites have tools or features that make it simple to look at recently sold homes and similar properties. You can often filter by price per square foot or the eventual sold price.
The multiple listing service, or MLS, is still the gold standard when it comes to up-to-date information, thanks primarily to real estate sales data from local agents. Public property records are another good way to get reliable, recent sales data, but they can be more challenging to interpret.
If you’re running comps on your own, remember that online tools are a starting point, not the final word. Pairing your research with professional insight ensures you’re working with accurate real estate comparables.
Avoid making common mistakes that cost you money. Make sure the data you’re looking at is current. Don’t look at pending sales, and always look at the final sale price, not the initial asking price or listing price.
Ignoring value-adding features like upgrades, pools, and so on can throw off accuracy. Online tools, while handy, shouldn’t be relied on in substitution for working with a real estate professional to find local comps.
The Ohio market demand is going to vary considerably by region. This means finding comparable sales demands a local lens. Each county will have its own sales activity, recently sold homes, recent sales prices, and other important metrics.
Being so close to Cincinnati, Butler County has a steady buyer demand and consistent commuter appeal. Data typically shows a mix of affordable homes and new construction. Sellers here who need to move fast can work with cash buyers to get a fair offer in a busy market.
Clark County is one of the more affordable counties in the state, and sales prices here reflect lower median home values relative to nearby counties. A growing job market and a convenient location mean Clark County is appealing for first-time buyers and real estate investors, so sellers in areas like Fairborn have some profitable options for fast sales.
Greene County is incredibly popular for its school districts and family-oriented communities. If you live in Greene County, searching “comps for my house” will more frequently return larger lots and properties aimed at long-term buyers.
Miami County provides a mix of small-town charm and modern amenities. Real estate transactions here show consistent interest in single-family homes, with comps helping sellers highlight affordability alongside growth potential.
Montgomery County is an urban hub that encompasses Dayton and has a massive range of recent sales prices. It also has a unique intermingling of historic neighborhoods with newer subdivisions that can make it challenging to find enough comps in your immediate area.
Warren County’s popularity has grown thanks to strong schools, access to Cincinnati, and rising market value. While demand is higher, sellers need to find comps more carefully to set the best listing price.
Getting the right price for your home starts with solid comparable sales data. Here are a few tips to make your house comps more reliable:
By looking at recent sales prices of comparable properties, you gain insight into what buyers are willing to pay and how to price competitively. For Ohio homeowners, using comps means fewer surprises during negotiations and a smoother selling process.
Accurate numbers not only help you set the right listing price but also give you confidence when comparing offers or responding to buyer questions. With the right approach, comps can guide you toward a faster sale and a fair outcome.
Knowing how to run accurate real estate comps for your house can give you the power to price your home more accurately and effectively. More importantly, it can help you price your home specifically to attract buyers without forfeiting money.
If you’re ready to sell, but don’t want to deal with the hassle of research or the cost of hiring a real estate agent, you may prefer a direct sale. H3 Homebuyers can help simplify the whole process with a fair cash offer and a faster closing than you would believe.
