Property Valuation
A Connecticut property's listing price is $550,000 and it sells for $565,000. The sale-price-to-list-price ratio is:
A96.8%
B97.2%
C102.7%✓ Correct
D103.5%
Explanation
Sale-to-list ratio = Sale price ÷ List price = $565,000 ÷ $550,000 = 1.0273 = 102.7%, indicating the property sold above list price.
Related Connecticut Property Valuation Questions
- When using the sales comparison approach, an appraiser makes adjustments to comparables to account for differences with the subject property. If a comparable has a feature the subject lacks, the adjustment to the comparable is:
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