Ace the California Real Estate Exam 2026 – Unlock Your Dream Career Today!

Question: 1 / 740

Is a property that sold at full asking price after only two weeks on the market a good comparable sale for a house that is 10% below the asking price after three months?

Yes, because it sold quickly

No, because it likely sold below market value

A property that sold at full asking price after only two weeks on the market may not be a good comparable sale for a house that sold for 10% below asking price after three months. This is because the quick sale of the first property may indicate a high demand for that specific property or a booming real estate market, which could lead to a higher sale price. On the other hand, the second property may have taken longer to sell and may have a lower sale price due to less demand or a slower market. Therefore, it is not advisable to use such a drastically different property as a comparable sale.

Get further explanation with Examzify DeepDiveBeta

Yes, because it sold at full asking price

No, because it is not in the same location

Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy