Comparable Sales
Definition of "Comparable sales"
Market analysis method where sales of similar properties in proximity neighborhoods are compared. The comparable sales methodology is extremely useful if the properties being compared are very similar and the sales are recent. It is widely use by real estate brokers to give approximate market valuations to buyers and sellers of real estate. Other factors enter into comparable sales including condition, location and property amenities.
Popular Real Estate Terms
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Present worth of the property which is different than the price paid for it or its book value (cost less accumulated depreciation). The current value may be determined through appraisal. ...
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