Comparable Property

Definition: A comparable property is a property used as evidence in analyzing the subject because relevant characteristics are sufficiently similar.

Example

A recent nearby sale with similar size and condition helps estimate the subject home's value.

Keep the distinction clear

Comparable does not mean identical. Adjust for relevant differences; the nearest sale is not automatically the best evidence.

Related terms

Subject Property · Sales Comparison Approach · Market Value

Keep studying

Comparable Sales: Adjustments and Weighted Values

References: California DRE: appraisal and valuation concepts

Pronunciation (US): KOM-per-uh-buhl PROP-er-tee (capitals show stress)

Pronunciation reference: Merriam-Webster