In terms of age of sale, which property is considered the best comparable?

Prepare for the Texas Real Estate Appraisal Exam. Test your knowledge with flashcards and multiple choice questions, all with hints and explanations. Pass with confidence!

In real estate appraisal, the concept of "age of sale" refers to the time elapsed since a property was sold compared to the current date. More recent sales are typically more relevant and provide a better indication of current market conditions and property values.

When evaluating the options, Property C stands out as having been sold only three months ago, which places it closer to the current market conditions than the other properties. The more recent the sale, the more accurately it reflects current buyer preferences, economic environments, and pricing trends.

In contrast, an active listing like Property A does not provide a definitive sale price and can be subject to negotiation and market fluctuations. Property B, while sold more recently than Property D, is still nine months old, making it less relevant than Property C. Property D, sold a year-and-a-half ago, is too old to reliably inform current value assessments due to the significant changes that may have occurred in the market since that sale.

Thus, Property C, with its recent sale date, is the best comparable, reflecting the most relevant data for adjusting property values in the current market context.

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