Picking good comps
- Closed sales, not active listings. Asking prices tell you what sellers hope for.
- Sold in the last 3 to 6 months, in the same subdivision or within about a mile.
- Within roughly 20% of the subject's living area, with similar age, bedrooms and lot.
- The same type: compare a pool home with pool homes and a waterfront lot with waterfront lots.
Florida details that move value
A few features change value here more than in most states. A roof older than about 15 years can make the home hard to insure, which shrinks the pool of buyers who can get a loan. Impact windows, a newer roof and a wind mitigation report lower insurance. A FEMA high-risk flood zone adds a required flood policy for buyers with a mortgage. For condos, the reserve and inspection status of the building under the 2022 and 2024 condo safety laws can matter more than the unit itself.
Using living area correctly
Florida listings and county records report living area (heated and cooled space). Garages, screened lanais and covered patios are not included. Use the same measure for the subject and every comp, or the price per foot will be off.
Turning value into an offer
The suggested range starts at the lowest comp's price per foot less your negotiating room and ends just below the average value. How far you go depends on days on market, price cuts and how many other buyers are looking. Your agent can pull closed sales from the MLS, including concessions the seller paid, which public sites often miss.
Questions
Where do I find sold prices in Florida?
Florida is a disclosure state, so sale prices are public on county property appraiser websites. Your agent can pull MLS data with the seller concessions included.
Should I use the appraised value from the tax roll?
No. The just value on the tax roll lags the market and is set as of January 1. Use recent sales.
