In the sales comparison approach, which of the following is an example of comparative data?

In the sales comparison approach, the focus is on evaluating a property by comparing it to similar properties that have recently sold in the same market. This method relies heavily on gathering data that can provide insights into the value of the subject property based on comparable transactions.

The correct answer is recent sales prices of similar properties because this data directly reflects what buyers are willing to pay for properties like the one being appraised. By analyzing these prices, appraisers can determine a market value for the subject property that aligns with actual sale conditions.

The other options, while they offer valuable information, serve different purposes. The location of the property can influence value but does not provide specific pricing data. Construction dates of various buildings can indicate the age and potential condition of a property, impacting value indirectly, but again, do not offer direct comparative pricing. Loan interest rates may affect buyers’ purchasing power and market conditions but are not a direct comparison of property values in the sales comparison approach.