What is the term for the quality of adjustment needed when evaluating comparable sales?

The term "Comparison adjustment" refers to the specific changes made to the sale prices of comparable properties in order to account for differences between the subject property and the comparables. This process is essential in appraisal and valuation, as it ensures that the adjustments facilitate a more accurate comparison for determining value.

When evaluating comparable sales, the appraiser assesses various factors, such as location, size, condition, and features of the properties. Each of these factors can affect the sale price. The adjustments are necessary to reflect the differences appropriately and arrive at a value estimate for the subject property. Therefore, "Comparison adjustment" captures this essential process of identifying and quantifying variations in features between the properties being compared.

Other terms like "Market sensitivity," "Equity analysis," and "Adjustment logic" do not precisely focus on the process of making adjustments to comparable sales as effectively as "Comparison adjustment" does. Market sensitivity may refer to the broader responsiveness of market prices to changes in supply and demand but does not pertain specifically to the adjustments needed in comparative analysis. Equity analysis typically involves examining fairness in property taxation or finance rather than the mechanics of making sale comparisons. Adjustment logic suggests a reasoning framework but lacks the specificity and practical application of "Comparison adjustment."