Evaluate Like a Pro: How to Build a Value Range from Comparable Sales

A practical guide to help Queensland buyers sort real comps from noise, make smart adjustments, and land on a confident offer range.*

Working out what a home is really worth can feel impossible when every listing looks perfect and open homes are buzzing. Take a breath. With a simple process, you can compare like for like, adjust for differences, and build a value range that protects your budget and helps you move sooner.

Why a value range beats a single number

Markets move, homes vary, and new information pops up during due diligence. A range gives you room to think clearly, negotiate respectfully, and avoid knee-jerk decisions. It also helps you decide when to sharpen your offer and when to walk away.

The data to collect before you start

• 3 to 5 recent settled sales in the same suburb or a nearby, genuinely comparable pocket

• Land size and zoning, frontage, slope, flood or overland flow overlays

• Bed, bath, car, build type and era, condition and upgrades

• Days on market and sale date, not just the list price

• Distance to transport, schools, shops and green space

• Notes from your inspection and from building and pest

Tip: prioritise settled sales from the last 3 to 6 months. If stock is thin, you can stretch to 12 months, then adjust more carefully.

How to choose true comparables

• Same buyer pool: a home a similar buyer would consider as a substitute

• Similar land and location attributes: block size, street position, noise, flood risk

• Like-for-like build: Queenslander vs post-war vs low-set brick behave differently on price

• Similar condition: renovated vs original will skew results if you mix them freely

If you are unsure, ask yourself: would I have considered these two properties in the same Saturday shortlist, If yes, they are likely comparable.

Making sensible adjustments

You do not need a valuer’s spreadsheet to get close. Apply small, logical adjustments and note them clearly.

• Land and layout: larger blocks, better frontage, usable yard, or a true third bedroom all add value; cramped layouts reduce it

• Condition: fresh kitchen and bathrooms, re-roof, re-stump, drainage works add value; tired wet areas or structural flags subtract

• Location specifics: flood history or overland flow risk lowers value; quiet street near parks can lift it

• Parking: secure garage usually beats carport or on-street

• Time: a sale from 9 months ago needs a market movement check, up or down

Keep adjustments conservative and consistent. If you guess big numbers, you will talk yourself into or out of anything. Aim to be roughly right, not precisely wrong.

Build your three-point range

1. Pick your anchor comp: the sale most similar in block, build and condition. Start there.

2. Set the low: choose the most inferior but still comparable sale, then adjust gently to today.

3. Set the high: choose the most superior comparable, adjust back for today and for differences.

Now you have Low - Mid - High. Sanity check it with what you saw at inspection and any issues flagged by building and pest.

Pressure test the range

• Would a buyer like you swap between these homes, If yes, the range is sensible.

• Does the range survive a change in terms, For example, if you needed a longer settlement, would you still be comfortable,

• Does flood risk, body corporate health or big upcoming maintenance change your upper limit, Adjust the high down if the risk is real.

Turning the range into an offer strategy

• If interest is light: you can begin near the low to mid with clear conditions and timelines.

• If interest is strong: start closer to mid, tidy your conditions, and be ready to move quickly after building and pest.

• If the home is exceptional for you: you might push toward the high, but only if the unique benefits matter to your life and budget.

Keep your tone friendly with the sales agent. Reference the evidence, not emotion. You are not trying to “win,” you are trying to buy the right home at a fair price for your situation.

A short Queensland story

A Clever Home Buyer couple were torn between two similar low-set brick homes a few streets apart. One had new drainage and a recent roof, the other looked prettier online. We pulled 5 settled sales, adjusted modestly for land, condition and days on market, and built a range. The prettier home sat above the high once we factored in likely roof work and a damp corner near the patio. They focused on the quieter street with recent works and bought inside their mid. Same suburb, clearer decision, calmer settlement.

Which step would help you most right now, choosing the anchor comp, making small adjustments, or turning the range into an offer plan, pop your question in the comments and I will point you to the right checklist.

Buying in Brisbane feels simpler when you replace hunches with a steady process. Stay kind to yourself, take it step by step, and remember, you have got this.