When conducting a CMA for a residential property, which of the following comparable sales would be MOST appropriate to include?
Correct Answer
B) A similar property sold two months ago, 500 metres away
The most appropriate comparable should be recent (ideally within 3-6 months), in close proximity to the subject property, and have similar characteristics. Recent sales in the immediate area provide the best indication of current market value.
Why This Is the Correct Answer
This sale is similar, recent and in the immediate neighbourhood, so it needs only small adjustments. Each other option carries one large adjustment, for age of sale, suburb or features.
Why the Other Options Are Wrong
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