Property Valuation
An appraiser uses three comparable sales to estimate the value of a subject property. The adjusted values of the comparables are $415,000, $422,000, and $418,000. Which value should the appraiser most likely assign?
A$415,000 (lowest comp)
B$418,000 (median)✓ Correct
C$422,000 (highest comp)
D$418,333 (simple average)
Explanation
Appraisers weigh and reconcile comparable sales rather than simply averaging. The median comparable ($418,000) often receives the most weight when comparables are clustered.
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