To obtain the best estimate of property value in a changing market, a broker should use comparables that are how old?

Using comparables that are no more than six months old allows a broker to obtain the most accurate and relevant estimate of property value in a changing market. Real estate values can fluctuate significantly over time due to various factors such as economic conditions, neighborhood developments, and market demand. Comparables from within the last six months reflect the most current trends and pricing in that particular market, ensuring that the valuation is based on properties that are similar and have had recent transactions.

Older comparables, such as those that are 12 months or even a year old, may not accurately represent the current state of the market. Changes in the local economy, shifts in buyer preferences, and even seasonal variations can lead to significant differences in property values in a relatively short period of time. By prioritizing recent sales data, the broker can make more informed recommendations and provide clients with a valuation that is grounded in the latest market realities.