In appraisal, a market value estimate of property based on actual prices paid in similar market transactions.
The actual price paid for similar market transactions used by the appraiser.
A method of appraisal that analyzes the sale price of comparative houses and uses that as a basis for coming up with a figure.
An appraisal method in which the value of a property is estimated by means of comparing it with similar properties recently sold.
The Market Approach to Value is one of the methods used to determine the value of property; it uses the value as determined by the open market to establish the assessed value of a property. The Market Approach to Value is the same as the Comparable Sales Approach to Value. See page 27.
In appraisal, using the marketplace as a yardstick to measure the value of property.
An estimate of value based on the actual sales prices of comparable properties. Contrast with cost approach to value and income approach to value.