How do I check the Advanced Comparable Sales search feature on Stash?
Modified on Sun, 12 Feb 2023 at 12:55 PM
Checking the recently sold properties in the area is really useful in generating your feasibility study. This will serve as your basis when it comes to numbers.
We are excited to announce the launch of our improved Comparable Sales feature, a powerful new tool that helps property developers, investors, and homebuyers easily find recent sales data for properties in their area of interest.
This feature allows users to search for comparable sales by suburb or radius, and filter results by price, area, number of bedrooms, and property type.
The Comparable Sales feature helps users make informed decisions about property development and investment by providing them with accurate and up-to-date sales data.
To check and view the Advanced Comparable Sales search, follow these steps below:
1. Once logged in to your Stash account, select your property of interest.
2. Click 'Comparable Sales' under the Research Property.
3. Begin your comparable sales search by Radius or Suburb and Time Period. You may also expand your search filters to narrow down your comparable sales results by Price, Area, Number of Beds, Baths, Cars, and Property type.
4. Once done, hit the Search button to apply your chosen filters.
5. The comparable sales results will automatically appear on your screen which is corresponded by the colored dots on your map with the price. (The color of the dots depends on the Time Period selected.)
Markers on the map:
- sold in the last 12 months
- sold in the last 2 years
- sold in the last 3 years
6. Hover your mouse on the dot to check more information about the property.
7. You may also sort your search by Price, area, and sold date by clicking on the 'Sort By' drop-down.
8. You can switch from List view to Table View for your Comparable Sales and may export your search results into CSV or Excel file.
9. Live link to portals is also added to view more data through the View Details option when checking the Comparable Sales.
9. By default, all properties from your comparable sales search results are selected. You may untick the checkbox if you want to remove it from your comparable search results. Notice that the Median price ( $____) will change its price once you've unticked the checkbox of the property.
10. In saving your comparable sales search results, just simply click the 'ADD TO MY COMPARABLES' and you can always retrieve the saved results under 'MY COMPARABLES'.
Note: Please make sure to stash the property so you can retrieve the property easily.
Question 1: How do the comparable sales generated in Stash?
Answer: Our comparables sales are generated based on sales for the past 36 months within 5 km. radius. Here is some additional information about Stash's Comparable Sales:
1. It performs a Comparable search using the following criteria:
5 km radius,
a limit of 100,
area < 1,000 sq. m. (we take similar properties sold with an area of +/- 5% and if there are not enough results, we bump it to 10%, then 20%, and so on until 50% (Note: Only 10+ results are taken to account), and
area >= 1,000 sq. m. same as the information above but we start with a +/- 20% area difference (Note: Only 3+ results are taken into account)
Question 2: How do you calculate the purchase price?
Answer: The purchase price is based on (median/average sq.m.) x property area
Also, the Comparable is then saved in the Stash database and can be viewed via that Report Link (so the user can check which properties were used in the comparable.)
You may also populate feasibility results using your comparable sales results. Click on the article below: