Comparative Market Analysis
- An approach for estimating the value of a property by comparing the sales prices of similar properties that have recently sold.
apples-to-apples, juxtapose, measure against another, market study
Related Terms and Acronyms
- Bargain Sale — Definition,
- Transfer of property or an item for less than market value.
- Comparables — Definition,
- Refers to "comparable properties," which are used for comparative purposes in the appraisal process.
- Market Value (MV) — Acronym, Important,
- Also known as "Fair Market Value." The estimated value of a property which a seller could expect to receive under normal conditions.