Which application is NOT part of the sales comparison approach?

The sales comparison approach primarily involves methods that directly analyze comparable sales data to determine the value of a property. Market analysis is a step that is often used in the preliminary stages to assess general market trends, economic conditions, and other influencing factors, but it is broader and not a specific application of the sales comparison approach itself.

In contrast, applications like the base unit method, cost per unit method, and comparative unit method are all directly employed in the sales comparison approach. These methods focus specifically on comparing similar properties to arrive at a value based on the sale prices of those properties. They provide a structured way to evaluate how features of similar sales correlate with the property in question, ultimately determining a fair market value.

Therefore, market analysis does not fit as a direct application within the sales comparison approach, which solidifies why it is the correct choice in this context.