Comparing your chalet to recent sales: the comparables method

The comparables method is the most widely used valuation technique among real estate professionals. It involves comparing your property to similar recent sales in order to derive a market value. When applied correctly, it is the most reliable method in a market as specific as the Mont-Blanc valley.

What is a "comparable"?

A comparable is a transaction completed recently (generally within the last 12 to 24 months) on a property with characteristics close to yours: same type (chalet, apartment, house), same commune or geographical area, similar living area, comparable general condition.

The closer the comparable is to your property in terms of location and characteristics, the more relevant it is. An ideal comparable is a sale on the same street or in the same neighbourhood, on a property of equivalent size and quality.

Where to find recent sales data?

The DVF database (Demande de Valeurs Foncières)

Available on data.gouv.fr, the DVF database lists all real estate transactions recorded by notaries since 2014. It is publicly accessible and allows you to consult actual sale prices by commune, street and property type. Limitation: it does not distinguish between an exceptional chalet with a panoramic view and an ordinary property of the same size.

Professional notarial data

Real estate agencies have access to more comprehensive databases (BIEN, Perval, or proprietary network databases) that include more details on the characteristics of sold properties. These data allow for qualitative, not just quantitative, comparison.

The agency's own transaction history

For an agent specialising in the Mont-Blanc valley, transactions completed directly represent the best comparables, as they have precise knowledge of the characteristics, sale conditions and motivations of the parties involved.

How to adjust comparables to your property?

No two properties are strictly identical. The adjustment involves correcting the value of the comparable based on the differences with your property. A comparable with a garage but no ski room, for a property that has one, will need to be increased by a premium corresponding to that feature. A comparable with an unobstructed view, for a property without a view, will be adjusted downwards.

These adjustments are qualitative and rely on market knowledge. They cannot be automated by an algorithm.

How many comparables for a reliable valuation?

Ideally, 5 to 10 comparables allow a solid price range to be derived. In a low-density market like Chamonix for luxury chalets, 3 good-quality comparables can suffice. Below that, the risk of error increases.

At MOMA Real Estate, every valuation is based on a documented analysis of recent comparables. Request your free valuation.