What is a ‘comp’? 1024 579 Matthew Cooney

What is a ‘comp’?

In the world of real estate, a comp (short for comparative) is what houses near the house that is for sale have sold for within the recent past.  Comps are used by realtors and appraisers to figure out what a house should sell for.  The word comp is sometimes confused with competition which refers to active homes for sale that a buyer can choose from near the house that is for sale.

For more information, contact:

Matthew Cooney
Sales Associate
Coldwell Banker Residential Brokerage
211 South Street
Morristown, NJ 07960

(C) 973-832-5932
(O) 973-267-8990 x153
(F) 862-345-3273