How do comparable sales affect my home's value?

Comparable sales, or comps, are the most important factor in determining your home's market value. Appraisers and agents look at homes similar to yours that have sold recently, typically within the last three to six months within a one-mile radius. They adjust for differences in size, condition, upgrades, and location. A cluster of high comps raises your value, while low comps or distressed sales push it down. Good comps are essential for accurate pricing.