Property Valuation
An appraiser uses three comparable sales to arrive at a value for a Gulfport, Mississippi home. After adjustments, the three comparables indicate values of $185,000, $188,000, and $187,000. The appraiser's final value estimate is most likely:
A$185,000
B$186,667
C$187,000✓ Correct
D$188,000
Explanation
When comparables are tightly clustered, the appraiser applies judgment to reconcile the data. $187,000 is the middle value and is a reasonable final estimate when the range is narrow ($185,000–$188,000).
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