Sales Comparison Method

The sales comparison approach to value is the most reliable method of estimating site value provided that there are recent sales of similar lots in the market area.

•	Identify suitable comparable sales

•	Select a relevant unit of comparison and adjust each sale accordingly

•	Identify dissimilarities using appropriate elements of comparison and adjust each sale accordingly

•	Reconcile the value indications into a final estimate of value of the subject

Given the following data, what is the value of the subject property using the sales comparison method?

Subject Property	Sale #1	Sale #2	Sale #3
Value?	$45,000	$48,000	$40,000
Interior Lot	Corner Lot	Corner Lot	Interior Lot
Level	Sloping	Level	Sloping
Average size	Large	Large	Average size

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