The method of estimating the value of a property based on an analysis of sales of similar properties. The sales comparison approach may be used to value improved properties, vacant land, or land being considered as though vacant; it is the most common and preferred method of land valuation when comparable sales data are available.
See Market Comparison Approach.
The process of estimating the value of property through examination and comparison of actual sales of comparable properties; also called the direct market comparison or market data approach.
The process of estimating the value of property through examination and comparison of actual sales of comparable properties; also called the direct market comparison approach. This is an excellent way to determine value because it reveals what buyers have paid or will have to pay for similar properties.
Estimates a property value by reference to comparable sales.
One of the three approaches to value. That approach in appraisal analysis which is based on the proposition an informed purchaser would pay no more for a property than the cost of acquiring an existing property with the same utility. This approach is applicable when an active market provides sufficient quantities of reliable data which can be verified from authoritative sources.
A method of estimating value of real property by comparing recent sales of comparable properties to the subject property after making adjustments for differences. The comparable properties should be substantially similar to the subject and should be arms length transactions.
Changes in legislation and the Saskatchewan Assessment Manual allow the use of the Sales Comparison Approach for residential properties and mobile homes with up to three dwelling units, and residential condominiums. The sales comparison approach uses statistical analysis to develop valuation models based on property sales.
Method of appraising real estate based on a market comparison of neighboring properties having similar characteristics to ascertain what it could cost to substitute a similar property for the current one.
a set of procedures that generates a value for a parcel by referencing comparable sales and developing appropriate units of comparison. Comparable sales must be identified, verified as an indication of market value and then adjusted(using appropriate units of comparison) to a subject property. Most preferred method of valuation because it mirrors actual market conditions.
Method of estimating value of a property by comparing similar properties that have been sold recently.
A set of procedures in which an appraiser derives a value indication by comparing the property being appraised to similar properties that have been sold recently, applying appropriate units of comparison, and making adjustments, based on the elements of comparison, to the sale prices of the comparables.
The construction and locations of homes comparable to the subject home are used to form an appraisal.
An appraisal practice which estimates the value of a property by comparing it to comparable properties which have sold recently.
A means of estimating value by comparing recent sales of comparable properties to the subject property after making appropriate adjustments for any differences. Also known as the market (sales) approach, this method is effective in an active market in which sales comparables can be identified and information collected. The comparable properties selected should be substantially similar to the subject property and should be arms-length transactions.
A set of procedures in which a value indication is derived by comparing the property being appraised to similar properties that have been sold recently, applying appropriate units of comparison, and making adjustments to the sale prices of the comparables based on the elements of comparison. The sales comparison approach may be used to value improved properties, vacant land, or land being considered as though vacant; it is the most common and preferred method of land valuation when comparable sales data are available.
The process of estimating the value of a property by examining and comparing actual sales of comparable properties.
A method of appraising a property by comparing recent sales of comparable properties and making the necessary adjustments for any differences.
The method of evaluating a property's value by comparing it to actual sales prices and values of comparable properties
The sales comparison approach attempts to compare a target property's value with similar properties and adjust the value of the target property according to the presence or absence of value determining characteristics. The comparison approach relies on the assumption that a matrix of attributes or significant features of a property drive its value. Examples of such attributes would be floor area, views, distance to amenities, number of bedrooms and age of property.