Definition of "Comparable sales"

Richard Wilson real estate agent
Richard Wilson, Real Estate Agent Century 21 Beggins

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.


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