Sales Comparison Method

  Previous topic Next topic JavaScript is required for the print function  

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

Page url: http://www.georgiaappraiser.com/glossary/index.html?salescomparisonmethod.htm