If a property's average sales price is $300,000 and is 10% below the asking price after three months, is a comparable that sold at full asking price after two weeks a good comparable?

To assess whether the comparable property that sold at full asking price after two weeks is a good basis for comparison, it's essential to understand market dynamics and the significance of the sale conditions.

The key detail here is that the subject property is priced 10% below the asking price after three months on the market. This situation indicates that the property may be experiencing a lack of buyer interest or that market conditions are softening, leading to a price reduction. In contrast, a comparable that sold at full asking price just two weeks after listing suggests a different market scenario, likely one with higher demand or more favorable conditions for sellers.

The fact that the comparable sold quickly and at asking price does reflect certain strengths, such as a potentially hot market, strong buyer interest, and an accurately priced property. However, it does not align with the conditions evident in the subject property after three months of being on the market without competitive offers. The absorption rate and the difference in time on market signal that the subject property's price might not be aligned with current market values.

While answering "No, because it likely sold below market value" may also seem reasonable, the correct understanding here focuses more accurately on the characteristics of the market at the times of these sales rather than the specific valuation of