Property Valuation
An appraiser completing an appraisal of a Park City luxury ski chalet will likely need to use comparable sales from:
AOnly Park City properties sold in the last 30 days
BOther resort and ski communities in Utah and possibly other western ski markets if local data is insufficient✓ Correct
COnly Salt Lake County residential sales as the closest market
DNationwide luxury home databases
Explanation
When local comparable sales are limited (as is common in luxury and unique resort properties), appraisers may expand their search to include similar resort communities—other Utah ski towns or comparable western mountain resort markets—with appropriate market condition and location adjustments.
Related Utah Property Valuation Questions
- An appraiser uses a paired sales analysis in the sales comparison approach primarily to:
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- A comparable sale used in a Utah appraisal should ideally be:
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