The primary tool for determining a home's value is the "comp," or comparable sale. A Comparative Market Analysis (CMA) looks at homes sold within the last six months that match the target property in size, layout, and location.

No two homes are identical. Once you have a "ballpark" from comps, you must adjust for the specific condition of the home in question.

External economic factors and "days on market" (DOM) dictate how much leverage a buyer actually has. How to determine what to offer on a house | Opendoor

Real estate is hyper-local. A house two blocks away might be worth more if it is within a better school district or closer to amenities.