In the paired sales analysis, what does Step 2 calculate?

In paired sales analysis, Step 2 specifically calculates the percentage of change per month between comparable sales. This method is utilized by assessors to determine the influence of market conditions on property values over time by examining changes in sale prices for similar properties.

By focusing on the percentage of change, assessors can better understand how much value has been added or lost, allowing for an adjustment in property assessments based on current market trends. This calculation is crucial for accurate appraisals and provides insights into how market fluctuations can affect property values, thus aiding in more informed decision-making regarding property taxes.

This approach also highlights trends in the real estate market, offering more granular insights than merely looking at absolute changes in property values. Understanding these trends is vital for an assessor evaluating similar properties in the same area, leading to fair and equitable assessments.