(See sales comparison approach.)
Appraising the value of a property by comparing the sales price of similar properties recently sold in the area. The degree of similarity of the properties, distance from the subject property and terms of the sale are important considerations. One of the three methods used in the appraisal process and usually the most reliable on residential properties.
One of the three primary methods of valuation used by Appraisers (Cost, Income, Market Data). Value estimate is determined by analyzing and comparing sale prices of similar properties recently sold.
One of the three standard methods of appraisal; based on comparing similar properties. Also called the Comparison or Comparative Analysis Approach.
An appraisal technique based on sales of comparable properties. Also called comparison approach.
The process of estimating the value of property through the examination and comparison of actual sales of comparable properties.
a process of determining fair market value of a land by comparing it with nearby or comparable properties which were subject of recent sales or offerings, making positive or negative adjustments depending on whether the comparatives are superior or inferior based on certain adjustment factors.
One of three methods used in the appraisal process which compares similar types of properties, that were recently sold, to the subject property.
An approach to value predicted upon a comparison of actual sales transactions with necessary adjustments for pertinent differences.
Also known as Comparison Method, Comparative Method or Substitution Method; it is a means of comparing recent sales of similar types of residential properties to the subject property in order to form an opinion of value. Of the three approaches to value, it is considered the quickest and easiest.
Analysis of real estate sales data to appraise real estate values.