02/02/2026
🏡 What is a “Comp” in an Appraisal?
You may hear appraisers, Realtors, or lenders talk about “comps” — but what does that really mean?
A comp (short for comparable sale) is a recently sold home that is similar to the property being appraised. Appraisers use comps to help determine what a home is worth in today’s market.
When selecting comps, we look for homes that are:
✔️ Similar in size and layout
✔️ Close in age and condition
✔️ Located nearby
✔️ Recently sold
✔️ Similar in lot size and features
Then, we make adjustments for differences — like extra bathrooms, updated kitchens, garages, pools, acreage, or condition — to ensure an apples-to-apples comparison.
Comps aren’t guesses or opinions — they are real market evidence that helps support a credible, defensible value opinion.
At McCoy Appraisal Services, we dig deep into the data so our clients can feel confident in the numbers. 📊
Have questions about your home’s value? We’re always happy to help!
— McCoy Appraisal Services