Market value assessment

Market value assessment is the process of determining the estimated price a property would likely sell for in an open market, considering current demand and conditions. It involves analyzing recent sales of similar properties, current market trends, and property specifics like size, location, and features. This assessment provides property owners, buyers, and lenders with an informed estimate of worth, ensuring transactions reflect true market conditions. Essentially, it's a professional opinion of what a property is worth at a given moment, based on real data and comparable sales.