What type of data is primarily collected and verified during the second step of the sales comparison approach?

During the second step of the sales comparison approach, the focus is on gathering and verifying specific data about comparable properties that have recently sold. This includes detailed information such as sale prices, property features, sizes, and conditions, which are essential for an accurate comparison. The nature of the specific data collected at this stage is critical because it grounds the valuation process in actual market activity.

The data must be pertinent to the subject property and its specific characteristics to ensure that the comparison made is meaningful and relevant. This step contrasts with general data, which might provide broad market trends but lacks the depth needed for precise valuation. Additionally, while market data is relevant, it encompasses a broader range of information beyond just the specifics necessary for direct comparison. Hence, the emphasis on specific data allows appraisers to establish a well-supported value based on like-kind sales, making this the correct answer.