How to actually compare your property to "similar" listings nearby
“Similar properties nearby” gets thrown around a lot, but two units three buildings apart can be worth 20% more or less than each other for reasons that have nothing to do with the postcode.
Same building beats same community
If you can find comparables in the exact same building, use them first — they control for location, amenities and building quality automatically. Only widen to the surrounding community when in-building data is too thin.
Match configuration and size band, not just bedroom count
A 2-bedroom at 950 sqft and a 2-bedroom at 1,400 sqft in the same tower are not comparable on a straight price basis — smaller units carry a higher price per square foot. Match on size band first, bedroom count second.
Recency beats volume
Ten comparables from eighteen months ago are worth less than three from the last six weeks in a market moving at double-digit annual growth. If a tool leans on stale data to pad its sample size, treat the output with more caution, not less.
- Pull comparables from the same building first, then the same cluster of buildings, then the wider community.
- Filter to a similar size band (±15–20%) before comparing price per square foot.
- Weight anything older than 6 months down, and anything older than 18 months out entirely unless nothing else is available.
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