Definition
A severely underpriced or distressed sale in a neighborhood that drags down the comparable sales data for everyone else's properties. It's the one house that ruins the curve for the entire class.
Example Usage
That foreclosure on Maple Street sold for $180k and became a comp killer—now my appraisal came in $30k lower than expected.
Origin
Appraiser and real estate agent terminology, emerged with increased foreclosure activity in 2008
Fun Fact
Sellers and listing agents will go to great lengths to explain to appraisers why a particular sale shouldn't count as a comp, often with the desperation of a student arguing for extra credit.
Source: Real estate appraisal and sales terminology
Related Terms
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See “comp killer” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.
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