USPAP Practice Exam 2026 – Complete All-in-One Guide to Mastering Professional Appraisal Standards

In conducting a sales comparison analysis, the availability and relevance of comparative sales data is a fundamental aspect for an appraiser to consider. This approach is based on the principle that the value of a property can be determined by examining the sale prices of similar properties in the market.

Having access to pertinent comparative sales data allows the appraiser to identify properties that closely resemble the subject property in terms of features, location, and market conditions. This relevance ensures that the data used in the analysis reflects the current market trends and conditions, thus leading to a more accurate and fair appraisal value. If the data is outdated or lacks relevance, it may not accurately reflect what buyers are willing to pay in the current market.

Other factors, such as focusing solely on property improvements, limiting the analysis to historical data over a decade, or considering only recent sales, may overlook the broader context necessary for a comprehensive market analysis. Each of these approaches could lead to an appraisal that does not adequately consider the full spectrum of comparable sales that inform property value in the present market.