What characteristic defines a comparable sale in real estate appraisal?

A comparable sale in real estate appraisal is primarily defined as a property that is similar to the subject property in key aspects. This similarity is crucial because it allows appraisers to derive an accurate estimation of value based on recent transactions of similar properties. Key aspects often considered include the property's size, age, condition, location, and features. By analyzing properties that closely resemble the subject property, appraisers can better assess its market value based on actual sale prices and characteristics that influence buyer decisions.

Other options do not align with the concept of comparability; for example, a property that has been recently listed for sale has not necessarily sold and may not reflect true market value, while a property situated in a different neighborhood might not share the same market dynamics or buyer preferences as the subject property, making it unsuitable for comparison. Lastly, unique architectural features may contribute to the property's value but can also create significant differences from the subject property, potentially making the comparison less effective.