When is the comparable sales approach used?

The sales comparison approach is often used when similar properties are being sold within the same geographical area.

What are the sales comparison approach steps?

The steps to conducting a sales comparison approach are as follows: Research sales of similar properties in the area. Verify data across comparable properties. Compare sales to the subject property. Consider property value factors and make adjustments. Calculate the final market value.

Sales Comparison Approach (SCA): A Guide