Question
. In using transaction data to determine the current value of the subject property, it is important to recognize that general market conditions may have
. In using transaction data to determine the current value of the subject property, it is important to recognize that general market conditions may have changed since a particular transaction occurred. Property A sold 18 months ago for $235,000 and Property B sold 12 months ago for $215,000. If the two properties are priced today at $239,500 and $222,300, Subject Property Comparable Property Time Sold Today 4 Months Ago Lot Size (Acres) 0.83 0.80 Effective Age (Years) 8 7 Living Area (Sq. Ft) 2,197 2,383 Bath 3.5 3.5 Bedrooms 4 4 Sale Price - $287,000 respectively, what is the average monthly rate of increase that can be used to adjust comparable prices for changes in market conditions?
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