Help with ARVs in still “hot” markets

[Brittany Edwards chu]

My question is so simple, yet not! How should I be looking at comps for ARV? Do I use the list price or the sold price? In my market (northern New Jersey) the competition and demand is so fierce that sold price will easily be 100k over list. My agent always uses sold price as the comp, but what is the true value? When there is such a discrepancy b/t the two, I need to make sure I target the correct one. Thanks In advance for any feedback!

[Eliott Elias]

I am using pendings and under contract listings, the market is changing so fast 3 month old comps may not even be accurate.