Learn about all of Torii’s informative real estate tools in our new series, Torii Tools.
Today’s post is all about Best Buys, the real estate tool that lets you see what undervalued homes are on the market.
What do we mean by “undervalued”?
A home listing makes it into Torii’s Best Buys when it is significantly lower-priced than what is expected for its zip code. For example, 7 Frost Rd. in Lexington, MA is listed at $1,049,000. It has 2,964 sq. ft, 5 bedrooms, and 3 bathrooms. Its price per square foot is just over $353.
Recently sold comps (comparable properties, based on size and number of bedrooms/bathrooms in the same town) sold for an average $390 per square foot. That puts 7 Frost Rd. as a Best Buy for its lower-than-average price per square foot. (At the $390 per square foot number, it would be listed closer to $150,000 higher!)
It’s easy to find all of the undervalued houses listed, just by using the Torii Best Buys tool! It’s available (free!) in the app and online.