What is this home worth? A comparable sales analysis
Short answer
A home's market value is best estimated from recent sales of similar homes nearby, each adjusted for time, size, bedrooms, bathrooms and condition, then checked against its assessed value and what it would rent for. The result is a likely range, not a single exact price.
Analyze a property
Estimated market value
$545,638
Likely $513,864 to $577,413 · $303/sq ft · High confidence
$513,864$577,413
Three ways to value it
| Sales comparisonAverage of the median $306/sq ft × 1800 sq ft and a regression on size (R² 0.74), from 5 adjusted sales. | $544,222 | 60% |
| AssessmentAssessed 540,000 adjusted 1.5% for market change since the valuation date. | $548,100 | 25% |
| Income$2,400 a month × 12 × gross rent multiplier 19. | $547,200 | 15% |
What it would cost to own
With 20% down ($109,128), the mortgage payment is $2,416 a month over 25 years, plus about $227 of property tax. Check if you qualify or compare renting and buying.
Adjusted sales This home (with range)Dashed: price vs size, R² 0.74
Median $/sq ft
$306
Variation in $/sq ft
5.3%
Extra sq ft worth
$134
Get the full property report
Every sale and adjustment, the three approaches and the statistics, as a PDF.
How does the estimate work?
Each sale is adjusted to your home: for market change since it sold, then for differences in bathrooms, bedrooms and condition. Size is handled by comparing price per square foot.
With four or more sales, a least-squares line of adjusted price against living area adds a second estimate with an 80% prediction interval. The sales estimate is weighted 60%, the assessment 25% and the rental value 15%.
How do I estimate a home's market value from comparable sales?
- 1
Find recent nearby sales
Pick three to eight homes of the same type that sold nearby in the last 6 to 12 months.
- 2
Adjust each sale to your home
Move older sales for market change since they sold, then adjust for differences in bedrooms, bathrooms and condition.
- 3
Compare by size
Divide each adjusted price by its living area and apply the median price per square foot to your home. With four or more sales, also fit a line of price against size.
- 4
Check against assessment and rent
Bring the latest assessed value up to date and multiply market rent by your area's gross rent multiplier.
- 5
Reconcile
Weight the approaches, giving the most weight to recent comparable sales, and read the range as well as the single number.
Frequently asked questions
How accurate is a comparable sales estimate?
With five or more recent, similar sales nearby it is usually within a few percent of market value. With fewer or less similar sales the range widens, which the confidence rating reflects.
Is my BC Assessment value my market value?
Not exactly. BC Assessment values a home as of July 1 of the previous year, so the market may have moved since. Use it as one input, adjusted for market change.
Can you look up my home's value automatically from the address?
Not yet. Sale records are licensed by real estate boards and assessment authorities, so for now you enter nearby sales from your assessment site or a realtor. Your address is used for the report only.
Where do these numbers come from?
The method follows the sales comparison, assessment and income approaches used in residential appraisal. It is an estimate for planning, not an appraisal; a licensed appraiser or realtor can inspect the home.