Okuzeka
Real Estate vocabulary · Valuation & Appraisal

Market value

Meaning in real estate, with examples

nounCore term

In real estate, market value means: The price a property would most likely sell for on the open market, between a willing buyer and a willing seller who both know the relevant facts.

In Turkish: piyasa değeri, rayiç değer

How it is used

Appraisers, agents and lenders all refer to market value. It can differ from the asking price, the price actually paid and the value used for tax. People say a property sold above, below or at market value.

Example sentences

  1. The flat sold slightly below market value because the owner needed a quick sale.

  2. An appraiser will estimate the current market value of your home.

Common collocations

  • current market value
  • below market value
  • estimate the market value
  • fair market value
  • appraisalA professional estimate of how much a property is worth, made by a qualified appraiser, often because a bank needs it before lending.
  • valuationA professional opinion of what a property is worth, or the figure that results. Agents, surveyors and lenders all carry out valuations for different purposes.
  • comparablesRecently sold properties that are similar in size, location and condition to the one being valued, used as evidence of its likely price.
  • asking priceThe price a seller puts on a property when it goes on the market. Buyers may offer less or, when demand is strong, more.

More terms: Valuation & Appraisal

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