An appraiser may reconcile to what type of indicated value by the sales comparison approach?

• A. Single point of value
• B. Range of values
• C. Weighted average
• D. Market cap rate

Answer: (A)

Reconciliation in the sales comparison approach involves blending the different indications into one final value estimate. After adjusting the comparables, the appraiser weighs the reliability and applicability of each indication to arrive at a single figure that represents the subject property’s value. This final value is a single point estimate, not a range, because appraisal practice generally presents a definite value.

A range could be considered during analysis, but the standard deliverable is one point value. Using a weighted average is a common method to combine indications, yet the result remains a single value. The market cap rate belongs to the income capitalization approach, not the sales comparison approach.