Question:
“At what point do ‘comps’ become so dated as not to be relevant to figuring out what a home is worth?”
Answer:
There’s no specific time period. Especially in a rising (or falling) market, the more recent the better.
I try to go back three (preferred) to six months.
In rare cases, I look back as far as 12 months, but must make bigger adjustments in a changing market such as we’re in now. But the bigger the adjustment, the less accurate it may be.
