Know which prices you are comparing

An asking price records a seller's expectation; a completed sale records an agreed transaction. Label your evidence accordingly before comparing properties. Then narrow the examples by building or location, size, layout, condition and date. A nearby apartment with a different outlook or a substantially different interior may need an explanation rather than equal weight in an average. For example, a renovated unit advertised today and an unrenovated unit sold earlier answer different questions. Keep the distinction in your notes and ask what evidence is available for the selected home. A few closely matched examples can be more informative than a long list of district prices. Use the comparison to understand the offer, while recognising that no single example settles the value of another property. Prepared by Masterpiece Property.