Arizona Home Sellers Guide to Understanding Real Estate Comps

Thinking of Selling Your Home in Arizona? Here's Why Comps Matter

If you're planning to sell your home in Arizona, you’ve probably heard real estate agents mention "comps" over and over. But what are comps, and why do they play such a big role in how you price your home? Let’s break it down in a simple and straightforward way.

What Are Comps and Why Should You Care?

Comps (short for "comparables") are recent sales of homes that are similar to yours in size, location, condition, and features. They’re one of the most powerful tools real estate agents use to determine the fair market value of your home.

Why are they so important? Because buyers are looking at them too. If your home is priced much higher than similar homes in the area, it might sit on the market. Price it too low? You could leave money on the table.

How Do Real Estate Agents Find Comps?

Your real estate agent will typically look at:

Homes sold within the last 3 to 6 months

Properties within a one-mile radius (or the same neighborhood)

Similar square footage, layout, and lot size

Same type of construction and upgrades

They’ll analyze this data in what’s called a CMA (Comparative Market Analysis). This helps them suggest a competitive and realistic listing price.

Can You Find Comps on Your Own?

Yes, you can! While agents have access to the MLS (Multiple Listing Service), homeowners can still search public property records or use online real estate platforms like Zillow or Redfin to look up recently sold properties. Just be sure you’re comparing homes that are truly similar to yours.

What Makes a Good Comparable Sale?

Not every nearby sale counts as a good comp. Look for homes that match your property in:

Location: Same school district or gated community

Condition: Updated kitchens or old flooring makes a difference

Size: Don’t compare a 1,500 sq ft home to a 2,400 sq ft house

Lot Size and Features: Pools, garages, or solar panels can impact value

Arizona Market Tip

Arizona’s real estate market is fast-moving. A house that sold 6 months ago might not reflect current conditions. That’s why it’s important to stay updated and work with an experienced local agent who knows the trends.

What If Your Home is Unique?

If your home is one-of-a-kind—maybe it has custom features or sits on a larger lot—it might be harder to find exact comps. In that case, pricing becomes more about market demand and expert insight from a local agent. They may also consider a professional appraisal.

How Comps Affect Appraisals

Even if you and your agent agree on a listing price, remember that the buyer’s lender will send an appraiser. They will also use comps to determine if your home is worth the price. If your home doesn’t appraise, the buyer might not get financing—or they’ll ask you to drop the price.

Final Thoughts on Using Comps to Price Your Home Wisely

Comps are one of the smartest tools in real estate. By understanding and using them correctly, you give yourself a much better chance of pricing your Arizona home to sell fast and for top dollar.