Property Valuation
An appraiser is appraising a Delaware property and finds three comparable sales. Sale 1 was 8 months ago, Sale 2 was 4 months ago, and Sale 3 was 1 month ago. Which comparable should be given the most weight?
ASale 1, because it has the longest track record
BSale 2, as a balanced midpoint
CSale 3, as it is the most recent and reflects current market conditions✓ Correct
DAll three should be given equal weight
Explanation
The most recent sale (Sale 3) best reflects current market conditions and should generally be given the most weight. Older sales may require time adjustments to account for market changes.
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