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ValuationSubject 8 of 19

Comparable

A property used as market evidence because it is sufficiently similar to the property being analyzed.

Direct answer

What does Comparable mean?

A property used as market evidence because it is sufficiently similar to the property being analyzed.

Exam cue: Adjust the comparable's price for relevant differences rather than changing the subject property's known features.

What does it look like in a question?

New York example

A nearby sale has an extra garage, so its price is adjusted to reflect that difference.

Common exam trap

What should you not confuse it with?

A comparable need not be identical to the subject property. Relevant differences are analyzed and adjusted.

Related valuation terms

AppraisalAn opinion of value developed by a qualified appraiser for an identified use, property interest and effective date.CapitalizationThe process of converting income into an indication of value.Comparative market analysisA broker's analysis of relevant market data to help a seller or buyer consider a probable price range.Cost approachA valuation approach that adds land value to the depreciated cost of the improvements.DepreciationA loss in property value from physical deterioration, functional obsolescence or external obsolescence in appraisal.External obsolescenceA loss in value caused by influences outside the property.
Sources used2 references with section locators

The curriculum citation confirms exam scope. Definition and rule citations support the explanation itself. Links and locators were checked on August 26, 2026.

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