Property Valuation
When appraising a Maine waterfront cottage, the appraiser notes that similar properties on the same lake have been selling rapidly above list price. This market condition is called:
AA buyer's market
BA seller's market✓ Correct
CAn equilibrium market
DA declining market
Explanation
When properties sell quickly and above list price, there are more buyers than available properties — a seller's market. This condition influences property values and appraisal methodology.
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